Unexplained expenditure treated as income when source is not satisfactorily shown, and denied deduction under the law. Section 105 provides that expenditure for which the taxpayer offers no explanation, or an explanation deemed unsatisfactory by the Assessing Officer, is to be treated as deemed income of the relevant tax year; that deemed amount is not allowable as a deduction under the Act.
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.
Unexplained expenditure treated as income when source is not satisfactorily shown, and denied deduction under the law.
Section 105 provides that expenditure for which the taxpayer offers no explanation, or an explanation deemed unsatisfactory by the Assessing Officer, is to be treated as deemed income of the relevant tax year; that deemed amount is not allowable as a deduction under the Act.
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