Taxation of unexplained income: specified incomes attract a high fixed rate plus tax on the balance. When an assessee's total income includes amounts treated as unexplained under the provisions dealing with unaccounted or inadequately explained receipts-whether disclosed in the return or determined by the Assessing Officer-the tax payable is computed as an aggregate: a fixed high-rate tax on those identified amounts, plus the tax that would be chargeable on the assessee's total income after excluding those amounts.
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.
Taxation of unexplained income: specified incomes attract a high fixed rate plus tax on the balance.
When an assessee's total income includes amounts treated as unexplained under the provisions dealing with unaccounted or inadequately explained receipts-whether disclosed in the return or determined by the Assessing Officer-the tax payable is computed as an aggregate: a fixed high-rate tax on those identified amounts, plus the tax that would be chargeable on the assessee's total income after excluding those amounts.
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