https://www.taxtmi.com/caselaws?id=64588 Section 68 applies only where a sum is credited in books of account maintained by the assessee; where no reliable books were shown to exist, the provision could not be invoked. Section 69 can apply to unexplained investments without books, but the assessee had traced the Indian investments to NRE account deposits supported by foreign inward remittance certificates, so the source was adequately explained and the addition failed. For a non-resident, section 5(2) taxes income only if received, accrued, or deemed to accrue in India; remittances from the assessee's own foreign bank account were first received outside India and did not become taxable in India merely by transfer into India. en-us Wed, 22 Jan 2003 00:00:00 +0530 Tue, 08 Feb 2011 17:08:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64588 Section 68 applies only where a sum is credited in books of account maintained by the assessee; where no reliable books were shown to exist, the provision could not be invoked. Section 69 can apply to unexplained investments without books, but the assessee had traced the Indian investments to NRE account deposits supported by foreign inward remittance certificates, so the source was adequately explained and the addition failed. For a non-resident, section 5(2) taxes income only if received, accrued, or deemed to accrue in India; remittances from the assessee's own foreign bank account were first received outside India and did not become taxable in India merely by transfer into India. Case-Laws Income Tax Wed, 22 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64588