Section 69B. Amount of investments, etc., not fully disclosed in books of account

2[ 69B. Amount of investments, etc., not fully disclosed in books of account. —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[1] [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[1] [Assessing Officer], satisfactory, the excess amount may be deemed to be the income of the assessee for such financial year.] 3 [69C. Unexplained expenditure, etc. —Where in any financial year an assessee has incurred any expenditure and he offers no explanation about the source of such expenditure or part thereof, or the explanation, if any, offered by him is not, in the opinion of the[1] [Assessing Officer], satisfactory, the amount covered by such expenditure or part thereof, as the case may be, may be deemed to be the income of the assessee for such financial year: 4[ Provided that, notwithstanding anything contained in any other provision of this Act, such unexplained expenditure which is deemed to be the income of the assessee shall not be allowed as a deduction under any head of income.]