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of <h1>Section 102 expands taxable income scope by deeming unexplained book credits, raising evidentiary burden for taxpayers</h1> Section 102 treats sums found credited in an assessee's books as taxable income where no explanation or an explanation unsatisfactory to the Assessing Officer is given; loans/borrowings and certain private-company receipts are deemed unexplained unless the person in whose name the credit stands also furnishes a satisfactory explanation to the AO, while specified venture capital entities are excluded from that counterparty requirement. The enacted Act and the original Bill are substantively identical; differences are drafting clarifications (phrasing, AO cross-reference). The provision increases evidentiary burdens and risk of income inclusion absent contemporaneous documentation and third-party corroboration.
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