https://www.taxtmi.com/circulars?id=9935 Exclusion from deemed concealment is available where, on search, assets are found that are not recorded in the assessee's books and the assessee makes a statement under section 132(4) that such assets were acquired out of income for a year for which the return filing period has not yet expired, specifies the manner of derivation of that income, and pays the tax together with interest; alternatively exclusion also applies where the income is already recorded in books or disclosed to the Chief Commissioner/Commissioner before the search. en-us Wed, 05 Jun 1991 00:00:00 +0530 Thu, 09 Jun 2011 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9935 Exclusion from deemed concealment is available where, on search, assets are found that are not recorded in the assessee's books and the assessee makes a statement under section 132(4) that such assets were acquired out of income for a year for which the return filing period has not yet expired, specifies the manner of derivation of that income, and pays the tax together with interest; alternatively exclusion also applies where the income is already recorded in books or disclosed to the Chief Commissioner/Commissioner before the search. Circulars Income Tax Wed, 05 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9935