Unexplained investments [ Section 69 Read with Section 115BBE ]

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..... ny source of income, and * the assessee offers no explanation about the nature and source of the investments or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, * the value of the investments may be deemed to be the income of the assessee of such financial year. Tax and Penalties on such unexplained Investment Tax u/s 115BBE- * Where the total i .....

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..... ated at the rate of 25% of such income-tax. Penalty u/s 271AAC- * Where income of assessee includes income u/s 68/69/69A/69B/69C/69D , the following officers - * Assessing Officer ; or * Joint Commissioner (Appeals) ; or * Commissioner (Appeals) * may (in addition to tax payable under section 115BBE) impose penalty, @10% of tax payable under section 115BBE on such income. * No pena .....

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