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of <h1>Unexplained Income Tax Rule Imposes 60% Levy, Blocks Deductions to Prevent Financial Concealment and Evasion</h1> Legal analysis of tax provision addressing unexplained income reveals a comprehensive legislative framework designed to combat tax evasion. The provision imposes a 60% tax rate on incomes from unaccounted sources, denying deductions or loss set-offs. It applies to income voluntarily disclosed or discovered during assessment, creating a strong deterrent against concealing financial resources. The approach ensures punitive taxation of unexplained financial transactions while maintaining a structured mechanism for tax enforcement.
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