https://www.taxtmi.com/article/detailed?id=2105 Explanation 1 treats added amounts as concealed income where the taxpayer fails to explain or substantiate facts material to computation of total income; here, impounded survey documents led to an offered amount taxed as income without explanation, and the High Court held that absence of explanation warranted deeming the addition as income subject to penalty. en-us Thu, 11 Apr 2013 15:01:45 +0530 Thu, 11 Apr 2013 15:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2105 Explanation 1 treats added amounts as concealed income where the taxpayer fails to explain or substantiate facts material to computation of total income; here, impounded survey documents led to an offered amount taxed as income without explanation, and the High Court held that absence of explanation warranted deeming the addition as income subject to penalty. Articles Income Tax Thu, 11 Apr 2013 15:01:45 +0530 https://www.taxtmi.com/article/detailed?id=2105