Unexplained money, etc Where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers […]

Unexplained investments Where in the financial year immediately preceding the assessment year the assessee has made investments which are not recorded in the books of account, if any, maintained by him for any source of income, and the assessee offers no explanation about the nature and source of the investments or the explanation offered by

Cash credits Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to

Method of computing a member’s share in income of association of persons or body of individuals (1) In computing the total income of an assessee who is a member of an association of persons or a body of individuals wherein the shares of the members are determinate and known [other than a company or a

Method of computing a partner’s share in the income of the firm [Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]

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

Liability of person in respect of income included in the income of another person Where, by reason of the provisions contained in this Chapter or in clause (i) of section 27, the income from any asset or from membership in a firm of a person other than the assessee is included in the total income of

Income of individual to include income of spouse, minor child, etc  (1) In computing the total income of any individual, there shall be included all such income as arises directly or indirectly—   (i) [Omitted by the Finance Act, 1992, w.e.f. 1-4-1993.]  (ii) to the spouse of such individual by way of salary, commission, fees or

“Transfer” and “revocable transfer” defined For the purposes of sections 60, 61 and 62 and of this section,—  (a) a transfer shall be deemed to be revocable if—    (i) it contains any provision for the re-transfer directly or indirectly of the whole or any part of the income or assets to the transferor, or   (ii) it, in any

Abetment of false return, etc. If a person abets or induces in any manner another person to make and deliver an account or a statement or declaration relating to any income or any fringe benefits chargeable to tax which is false and which he either knows to be false or does not believe to be