Section 69CCentral Act
Section 69C: [ Unexplained expenditure, etc. [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]
[ Unexplained expenditure, etc. [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]
- 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 ][Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer" (w.e.f. 1.4.1988).][, 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:[Provided that notwithstanding anything contained in any other provision of this Act, such unexplained expenditure which is deemed to be the income of the assessee shall not be allowed as a deduction under any head of income. ] [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]Previous
Sec 69B — [ Amount of investments, etc., not fully disclosed in books of account. [Inserted by Act 10 of 1965, Section 19 (w.e.f. 1.4.1965).]
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Sec 69D — [ Amount borrowed or repaid on hundi. [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]
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