Undisclosed investments treated as income when expenditure on valuables exceeds book entries and explanation is unsatisfactory. Insertion of Section 69B provides that if an assessee's investments or ownership of bullion, jewellery or other valuable articles exceeds amounts recorded in the books of account for any source of income, and the assessee offers no explanation or an explanation that is unsatisfactory to the Income-tax Officer, the excess amount may be deemed to be the income of the assessee for that financial year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Undisclosed investments treated as income when expenditure on valuables exceeds book entries and explanation is unsatisfactory.
Insertion of Section 69B provides that if an assessee's investments or ownership of bullion, jewellery or other valuable articles exceeds amounts recorded in the books of account for any source of income, and the assessee offers no explanation or an explanation that is unsatisfactory to the Income-tax Officer, the excess amount may be deemed to be the income of the assessee for that financial year.
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