Section 104(1)(b) in The Income Tax Act, 2025

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Union of India - Subsection

Section 104(1)(b) in The Income Tax Act, 2025

(b)the explanation offered about the nature and source of acquisition of such asset by the assessee, is not satisfactory in the opinion of the Assessing Officer,then, the value of such asset, or such excess amount, as the case may be, shall be deemed to be the income of the assessee of the tax year in which such asset has been found to be owned by, or belonging to, the assessee.

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Union of India - Subsection

Section 104(1)(b) in The Income Tax Act, 2025