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of <h1>Unexplained Investments Under Income Tax Act: 60% Tax, 25% Surcharge, Penalties for Non-Declaration.</h1> Unexplained investments under Section 69 of the Income Tax Act are those not recorded in the assessee's books and lacking satisfactory explanation. Such investments are deemed income for the financial year. Tax on these under Section 115BBE is 60%, with no deductions or loss offsets allowed. A 25% surcharge applies to this tax. Penalties under Section 271AAC may be imposed at 10% of the tax if the income includes unexplained investments, unless declared in the return and taxed accordingly. If imposed, Section 270A penalties are not applicable again.
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