Amount of investments, etc., not fully disclosed in BOA -Section 69B, Unexplained expenditure, etc. – Section 69C, Amount borrowed or repaid on hundi – Section 69D - Income Tax - Ready Reckoner - Income Tax

Amount of investments, etc., not fully disclosed in BOA -Section 69B, Unexplained expenditure, etc. Section 69C, Amount borrowed or repaid on hundi Section 69D Amount of investments, etc., not fully disclosed in BOA -Section 69B Where in any financial year the assessee has made investments or is found to be the owner of any bullion, jewellery or other valuable article, and the AO finds that the amount expended on making such investments or in acquiring such articles exceeds the amount recorded in this behalf in the BOA and he offers no explanation about such excess amount or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the excess amount may be deemed to be the income of the assessee for such financial year . Unexplained expenditure, etc. Section 69C Where in any financial year an assessee has incurred any expenditure and he offers no explanation about the source of such expenditure or the explanation unsatisfactory in the opinion of the AO, AO can treat such expenditure or part thereof, as the case may be, may be deemed to be the income of the assessee for such financial year And 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 . Amount borrowed or repaid on hundi Section 69D Where any amount is borrowed on a hundi from, or any amount due thereon is repaid to, any person otherwise than through an account payee cheque drawn on a bank, the amount so borrowed or repaid shall be deemed to be the income of the person borrowing or repaying the amount aforesaid for the previous year in which the amount was borrowed or repaid, as the case may be. However , Where any case any amount borrowed on a hundi has been deemed to be the income of any person, such person shall not be liable to be assessed again in respect of such amount under the provisions of this section on repayment of such amount. Note- For the purposes of this section, the amount repaid shall include the amount of interest paid on the amount borrowed .