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of <h1>Unexplained unrecorded investments may be treated as income under Section 69 when taxpayer fails to prove source</h1> If, in the financial year preceding the assessment year, a taxpayer makes investments not recorded in maintained books of account and either offers no explanation about their nature and source or the assessing officer finds the explanation unsatisfactory, the value of those unexplained investments may be treated as the taxpayer's income for that financial year. The provision thus permits the assessing authority to aggregate unrecorded investments into taxable income when satisfactory proof is lacking.
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