Unexplained expenditure deemed income: unsatisfactory source explanations treated as assessable income and disallowed as deductions. If an assessee incurs expenditure and offers no explanation, or an explanation deemed unsatisfactory by the Assessing Officer, the unexplained amount may ... Summary
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Unexplained expenditure deemed income: unsatisfactory source explanations treated as assessable income and disallowed as deductions.
If an assessee incurs expenditure and offers no explanation, or an explanation deemed unsatisfactory by the Assessing Officer, the unexplained amount may be treated as the assessee's income for that financial year; such deemed income is not allowable as a deduction under any head of income.
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