https://www.taxtmi.com/acts?id=51633 Section 102 taxes sums credited in an assessee's books as income where the assessee offers no explanation or an explanation the Assessing Officer finds unsatisfactory. Credits characterized as loans or similar amounts are deemed not satisfactory unless the named person also provides a satisfactory explanation acceptable to the Assessing Officer; analogous treatment applies to private company credits recorded as share application money, share capital, share premium or similar amounts. Sub-sections (2) and (3) do not apply where the named person is a specified venture capital fund or company. en-us Thu, 14 Aug 2025 10:40:57 +0530 Tue, 26 Aug 2025 16:03:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51633 Section 102 taxes sums credited in an assessee's books as income where the assessee offers no explanation or an explanation the Assessing Officer finds unsatisfactory. Credits characterized as loans or similar amounts are deemed not satisfactory unless the named person also provides a satisfactory explanation acceptable to the Assessing Officer; analogous treatment applies to private company credits recorded as share application money, share capital, share premium or similar amounts. Sub-sections (2) and (3) do not apply where the named person is a specified venture capital fund or company. Act-Rules Income Tax Thu, 14 Aug 2025 10:40:57 +0530 https://www.taxtmi.com/acts?id=51633