Section 69B – Amount of Investment, Bullion, Jewellery or other valuable article not fully disclosed

Описание: Section 69B: Amount of Investments, jewellery, bullion or other valuable article, etc not fully disclosed in books of accounts.

If Assessing Officer finds that the amount expended on making such investments or in such bullion, jewelry or other valuable article

Exceeds the amount recorded in this behalf in the books of accounts maintained by the assessee for any source of income,

and the assessee offers no explanation about such excess amount, or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory,

the excess amount may be deemed to be the income of the assessee for such financial year.

By CA. Rahul Gupta

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