What is Unexplained money, etc? What are Amount of investments, etc., not fully disclosed in books of account? Section 69A and 69B of Income Tax Act 1961

Unexplained money, etc and Amount of investments, etc., not fully disclosed in books of account are defined under section 69A and 69B of Income Tax Act 1961. Provisions under these Sections are:

Section 69A of Income Tax Act "Unexplained money, etc"

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, 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 Assessing Officer, satisfactory, the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income of the assessee for such financial year.

Section 69B of Income Tax Act "Amount of investments, etc., not fully disclosed in books of account."

69B. Where in any financial year the assessee has made investments or is found to be the owner of any bullion, jewellery or other valuable article, and the Assessing Officer finds that the amount expended on making such investments or in acquiring such bullion, jewellery or other valuable article exceeds the amount recorded in this behalf in the books of account maintained by the assessee for any source of income, and the assessee offers no explanation about such excess amount or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the excess amount may be deemed to be the income of the assessee for such financial year.