Section 69B - Amount of investments, etc., not fully disclosed in books of account

Undisclosed investments treated as income where excess over books lacks satisfactory explanation, allowing assessing officer to deem it taxable.

Where an assessee's investments or ownership of bullion, jewellery or other valuable articles exceed amounts recorded in the books of account and the assessee offers no explanation or an explanation the assessing officer finds unsatisfactory, the assessing officer may deem the excess amount to be the income of the assessee for that financial year.