Amount of investments, etc., not fully disclosed in books of account [ Section 69B read with Section 115BBE ]

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.... owner of any bullion, jewellery or other valuable article, and * the Assessing Officer finds that the amount expended on making such * investments or * in acquiring such bullion, jewellery or other valuable article * exceeds the amount recorded in this behalf in the books of account maintained by the assessee for any source of income, and * the assessee offers no explanation about such ....

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....s shall be allowed to the assessee in computing his income under the specified sections. Surcharge - In respect of any 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 inco....