Taxation of undisclosed income

This 5th edition of Taxation of Undisclosed Income under Income Tax Law, authored by Ram Dutt Sharma, offers a comprehensive and practical guide to the provisions, procedures, and implications of taxing undisclosed income under the Income Tax Act, 1961. Updated as amended by the Finance Act, 2022, the book examines the statutory framework for detection, assessment, and taxation of income that has not been declared to the authorities, along with relevant penalties and prosecution provisions.

The book integrates legal provisions with judicial interpretations, CBDT circulars, and practical examples to provide readers with a complete understanding of how undisclosed income is identified and taxed. It also covers procedural safeguards available to taxpayers and the role of investigation and assessment authorities.

The content covers:
• Definition and scope of “undisclosed income” under various provisions
• Powers of tax authorities to detect and assess undisclosed income
• Assessment procedures for undisclosed income in search and survey cases
• Interaction with penalty and prosecution provisions
• Computation methods and evidentiary requirements
• Tax implications of cash deposits, unrecorded sales, benami transactions, and unexplained investments
• Special provisions under Sections 68 to 69D
• Judicial rulings interpreting undisclosed income taxation
• CBDT circulars, notifications, and practical compliance guidance
• Preventive measures and documentation practices to avoid disputes

This edition is particularly suitable for:
• Chartered accountants, tax consultants, and advocates dealing with assessment and litigation
• Corporate tax teams and compliance officers managing high-value transactions
• Law and commerce students studying Indian taxation laws
• Taxpayers seeking to understand risks and consequences related to undisclosed income

Whether used for advisory, litigation, compliance, or academic purposes, this updated edition serves as an authoritative and practical reference on the taxation of undisclosed income under the Income Tax Act, 1961.