A Deep Dive into Unexplained Asset in Clause 104 of Income Tax Bill, 2025 Vs. Section 69A of Income Tax Act, 1961

Unexplained assets treated as deemed income: inclusion of virtual digital assets broadens taxable asset coverage and disclosure obligations.

Clause 104 deemsthe value of assets not recorded, or under recorded, in an assessee's books to be taxable income where the assessee fails to provide a satisfactory explanation; it expressly includes virtual digital assets and places onus on the assessee to prove the nature and source, leaving determination of adequacy to the Assessing Officer.