Section 69B Limits Assessing Officer's Discretion in Quantifying Understated Investments Once Proven.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Section 69B does not give the AO the option of applying any reasonable yardstick to measure the precise extent of understatement of the investment once the fact of understatement is proved. - HC....