Income U/s. 271AAA justified if Asssessee fails to specify as to how she derived undisclosed income

Pr. CIT Vs Ritu Singal (Delhi High Court) The assessee merely stated that the sums advanced were undisclosed income. However, she did not specify how she derived that income and what head it fell in (rent, capital gain, professional or business income out of money lending, source of the money etc). Unless such facts are mentioned with some specificity, it cannot be said that the assessee has fulfilled the requirement that she, in her statement (under Section 132 (4)) ―substantiates the manner in which the undisclosed income was derived‖. Such being the case, this court is of opinion that t...