Unexplained expenditure, etc.

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..... d any expenditure and he offers no explanation about the source of such expenditure or part thereof, or the explanation, if any, offered by him is not, in the opinion of the 2[Assessing] Officer, sati .....

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..... ------------------------- Notes :- 1. Inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976. 2. Substituted for "Income-tax" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4- .....

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