Section 69A

¹³ [Unexplained money, etc.

¹⁴ 69A.     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 ¹⁵, and the assessee offers no explanation about the nature and source of acquisition of the money, bullion, jewellery or other valuable article, or the explanation offered by him is not, in the opinion of the ¹⁶[Assessing] Officer, satisfactory, the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income ¹⁵ of the assessee for such financial year.]