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of <h1>Section 103 broadens deeming of unrecorded or excess investments as unexplained income, increasing taxpayer compliance risk</h1> Section 103 treats investments not recorded in an assessee's books, or amounts exceeding such records, as 'unexplained' and deemable to income if no explanation is provided or the explanation is unsatisfactory to the Assessing Officer; it vests evaluative discretion in the AO and contains no express exceptions or evidentiary standards. The Act wording expands scope versus the original Bill by adding 'for any source of income,' and by omitting the Bill's qualifier that the investment be 'found recorded,' thereby broadening the provision's reach and increasing compliance and documentation risk for taxpayers.
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