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of <h1>Section 69B Targets Undisclosed Investments: Excess Assets Must Be Explained or Counted as Income for Transparency.</h1> Section 69B, newly inserted into the Income Tax Act by the Finance Act of 1965, addresses undisclosed investments. It stipulates that if an assessee's investments or ownership of valuable items like bullion or jewelry exceed the amounts recorded in their financial accounts, and they fail to provide a satisfactory explanation for the discrepancy, the excess amount can be considered as the assessee's income for that financial year. This provision aims to ensure transparency and accountability in financial disclosures related to investments and valuable assets.
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