For the purposes of sections 96 and 97, and this section,—(a) “transfer” includes any settlement, trust, covenant, agreement or arrangement;(b) a transfer shall be considered to be revocable, if––(i) it contains any provision for the direct or indirect re-transfer of the whole or any part of the income or assets to the transferor; or(ii) it, […]

Where, income of a person, other than the assessee, arising from any asset, or income from membership of a firm, is included in the total income of the assessee under this Chapter or under section 25(a), then, irrespective of anything to the contrary contained in any other law in force,––(a) such person, in whose name

In computing the total income of an assessee, there shall be included all income on which no income-tax is payable under Chapter XVIIA-4.

(1) Where any sum is found credited in the books of account maintained by the assessee for any tax year, and––(a) the assessee offers no explanation about the nature and source of such credit; or(b) the explanation offered by assessee is not satisfactory in the opinion of the Assessing Officer, then, the sum so credited

Where in any tax year, any investment has been made by the assessee which is not recorded in the books of account, if any, maintained by such assessee, or, the Assessing Officer finds that the amount of such investment exceeds the amount recorded in such books of account where the investment is found recorded, and

(1) Where in any tax year, any asset has been found to be owned by or belonging to the assesse which is not recorded in the books of account, if any, maintained by such assessee, or the Assessing Officer finds that the amount of such asset exceeds the amount recorded in such books of account

(1) Where any expenditure has been incurred by the assessee in any tax year, and––(a) the assessee offers no explanation about the source of such expenditure or part thereof; or(b) the explanation offered by the assessee is not satisfactory in the opinion of the Assessing Officer, then, the amount covered by such expenditure or part

(1) Where any amount (including interest thereof) is borrowed or repaid through a negotiable instrument or a hundi, other than an account payee cheque, or through any mode as specified by the Board in this behalf, the amount so borrowed or repaid shall be deemed to be the income of the person borrowing or repaying,

Income referred to in sections 102, 103, 104, 105 and 106 shall be charged to tax as per the provisions of section 195.