Section 69C in The Income Tax Act, 1961
69C. [ Unexplained expenditure, etc. [Inserted by Act 41 of 1975, Section 14 (w.e.f. 1.4.1976).]
- Where
includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D and reflected in the return ... section 139; or (b) determined by the Assessing Officer includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C
determined includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D for any previous year ... respect of income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D to the extent such income
Whether the Income-tax Appellate Tribunal erred in
holding that Section 69C is not applicable to block
assessment ?
c) Whether the Income-tax Appellate Tribunal ... been held
to be the unexplained expenditure of the assessee under Section 69C of the
Income-tax Act, 1961 (hereinafter referred to as „the said
rejection of book results under Section 145 (2}-Whether, therefore, there was no justification to invoke Section 145(2) and reject books of account ... books of accounts are maintained, no addition can be made under Section 69B / 69C only on the basis of the report
assessee includes any income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, the income-tax payable shall ... calculated on income referred to in section 68, section 69, section 69A, section 69B, section 69C or section 69D, at the rate of thirty
section 69 or section 69B or the
value of any bullion, jewellery or other valuable article
referred to in section 69A or section ... section 142A , it is clear
that the Legislature referred to the provisions of section 69 ,
69A and 69B but specifically excluded section 69C . The
principle
National Plastic Industries Ltd. of Rs. 25 lakhs under Section 69C of the IT Act, 1961.
3(ii) Without prejudice to the above, the learned ... Plastic Industries Ltd. for procuring large order should be made under Section 69C of the IT Act and no deduction of the said amount which
proceeding
under section 153A of the Act. The Ld. CIT(A) held that
incriminating material, which led to addition under section 69C ... assessment under section 153A in view of the
incriminating material found during the course of search, leading
to addition under section 69C
addition to be made in the light of the
provision of section 69C of the Act. Section 69C of the Act reads as under ... show cause notice u/s 263 of the
Act that the Assessing Officer did not examine the applicability of section 69C