Cash Credits - Section 68, Unexplained Investments -Section 69, Unexplained Money - Section 69A

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..... essee offers no explanation about the nature and source thereof, or the explanation offered by him is not satisfactory in the opinion of the Assessing Officer, then the sum so credited may be charged to tax as the income of that previous year (i.e., the previous year in the books of which such sum is first credited). However, where the sum so credited consists of loan or borrowing or any such amou .....

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..... edited; and such explanation in the opinion of the Assessing Officer aforesaid has been found to be satisfactory. These additional evidence would not be apply if the person, in whose name the sum referred to therein is recorded, is a venture capital fund or a venture capital company as referred in Section 10(23FB). Unexplained Investments - Section 69 Where in the previous year relevant to the ass .....

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..... offered by him is not satisfactory, in the opinion of the Assessing Officer, then the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income of the assessee of such financial year . - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com .....

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