Unexplained asset.

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....or belonging to the assesse which is not recorded in the books of account, if any, maintained by such assessee, or the Assessing Officer finds that the amount of such asset exceeds the amount recorded....

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....be deemed to be the income of the assessee of the tax year in which such asset has been found to be owned by, or belonging to, the assessee. (2) In this section, "asset" includes money, bullion, jewe....