Section 271(1)(B) in The Income Tax Act, 1961

[Cites 0, Cited by 19] [Section 271(1)] [Section 271] [Entire Act]

Union of India - Subsection

Section 271(1)(B) in The Income Tax Act, 1961

(B)such person offers an explanation which he is ][not able to substantiate and fails to prove that such explanation is bona fide and that all the facts relating to the same and material to the computation of his total income have been disclosed by him, then, the amount added or disallowed in computing the total income of such person as a result thereof shall, for the purposes of clause (c) of this sub-section, be deemed to represent the income in respect of which particulars have been concealed.] [ Substituted by Act 46 of 1986, Section 19, for " not able to substitute" (w.e.f. 10.9.1986).]

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Union of India - Subsection

Section 271(1)(B) in The Income Tax Act, 1961