Unexplained expenditure, etc.

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....ee has incurred any expenditure and he offers no explanation about the source of such expenditure or part thereof, or the explanation, if any, offered by him is not, in the opinion of the 2[Assessing]....

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.....]     **************** NOTES:- 1.  Inserted vide Section 14 of the Taxation Laws (Amendment) Act, 1975 w.e.f. 01-04-1976 2.  Substituted vide Section 2 of t....