Unexplained money, etc. [ Section 69A read with Section 115BBE ]

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... not recorded in the books of account, if any, maintained by him for any source of income, and * the assessee offers no explanation about the nature and source of acquisition of the money, bullion, jewellery or other valuable article, or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, * the money and the value of the bullion, jewellery or other val....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... income chargeable to tax under section 115BBE(1)(i) of the Income-tax Act, the amount of income-tax computed under this sub-section shall be increased by a surcharge, calculated at the rate of 25% of such income-tax. Penalty u/s 271AAC- * Where income of assessee includes income u/s 68/69/69A/69B/69C/69D , the following officers - * Assessing Officer ; or * Joint Commissioner (Appeals) ; ....