(2)For the purposes of sub-section (1), where the sum so credited consists of loan or borrowing or any such amount, by whatever name called, the explanation offered by such assessee shall be deemed to be not satisfactory, unless,—(a)the person in whose name such credit is recorded in the books of such assessee also offers an explanation about the nature and source of such sum so credited; and(b)such explanation in the opinion of the Assessing Officer has been found to be satisfactory.
