Section 69C of Income-Tax Act, 1961

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Section 69C of Income-Tax Act, 1961 deals with 'Unexplained expenditure, etc.'.

Contents

From the Act

Where in any financial year an assessee has incurred 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 3[Assessing] Officer, satisfactory, the amount covered by such expenditure or part thereof, as the case may be, may be deemed to be the income of the assessee for such financial year.

Notes

  • Section 69C: if any unexplained expenditure made in a financial year, the source of which cannot be explained by the assessee, such expenditure are to be taken into the consideration in the previous year of the same financial year.

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