In certain cases, some amounts are deemed as income in the hands of the assessee, they are actually not in the nature of income. The object of deeming the amount as income is to check tax evasion .The following are the deemed incomes:
1. Cash credits
2. Unrecorded and unexplained investments.
3. Unrecorded and unexplained money, etc.
4. Amount of investments, etc. not fully disclosed in books of account.
5. Unexplained expenditure, etc.
6. Amount borrowed or repaid on Hundi.
