https://www.taxtmi.com/caselaws?id=67705 Section 144B of the Income-tax Act could not be applied to an assessment for assessment year 1973-74 because the provision came into force only from 1 April 1976, so non-compliance with it could not invalidate the assessment. On the merits, an addition for unexplained investment in house construction was unsustainable where the valuation material, balance-sheet figures, approved valuer's report, witness statements, and an independent statutory assessment collectively supported the assessee's explanation of cost, timing, and sources of funds. The construction having continued until June 1973, the expenditure was attributable to the relevant years and the addition was deleted. en-us Tue, 08 Aug 1978 00:00:00 +0530 Mon, 14 Mar 2011 11:18:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67705 Section 144B of the Income-tax Act could not be applied to an assessment for assessment year 1973-74 because the provision came into force only from 1 April 1976, so non-compliance with it could not invalidate the assessment. On the merits, an addition for unexplained investment in house construction was unsustainable where the valuation material, balance-sheet figures, approved valuer's report, witness statements, and an independent statutory assessment collectively supported the assessee's explanation of cost, timing, and sources of funds. The construction having continued until June 1973, the expenditure was attributable to the relevant years and the addition was deleted. Case-Laws Income Tax Tue, 08 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67705