Unexplained expenditure deemed income cannot be claimed as a deduction under any head of income. The amendment provides that unexplained expenditure deemed to be the income of the assessee shall not be allowed as a deduction under any head of income, ... Summary
Unexplained expenditure deemed income cannot be claimed as a deduction under any head of income.
The amendment provides that unexplained expenditure deemed to be the income of the assessee shall not be allowed as a deduction under any head of income, notwithstanding any other provision of the Act, and takes effect from the stated operative date.
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