Bank Passbook Recognized as "Books of Account" u/s 68; Unexplained Deposits May Increase Taxable Income.

Unexplained bank deposit u/s 68 - bank passbook - After the introduction of the definition of the books or books of account u/s 2 (12A), the passbook can also be considered as books or books of account - Section 68 does not make any distinction about who maintains the books of account, the only requirement is that the books should be of an assessee - addition sustained .....

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