https://www.taxtmi.com/caselaws?id=61696 An addition for unexplained investment in construction cannot be sustained merely on a departmental valuation report where the assessee has produced regular books of account and those books have not been rejected. The assessment record showed that the cash book and ledger were maintained and test-checked, and the estimated valuation could not override the actual cost recorded in the books. The appellate finding that bills and vouchers were not maintained was held perverse on the record. The addition was therefore deleted. en-us Mon, 16 Dec 2002 00:00:00 +0530 Wed, 20 Jun 2012 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61696 An addition for unexplained investment in construction cannot be sustained merely on a departmental valuation report where the assessee has produced regular books of account and those books have not been rejected. The assessment record showed that the cash book and ledger were maintained and test-checked, and the estimated valuation could not override the actual cost recorded in the books. The appellate finding that bills and vouchers were not maintained was held perverse on the record. The addition was therefore deleted. Case-Laws Income Tax Mon, 16 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61696