https://www.taxtmi.com/caselaws?id=70985 The Tribunal ruled in favor of the assessee, deleting the additions made by the AO for unexplained investments in construction. It held that the cost of construction as per the assessee's books should be accepted, rejecting the higher estimations by the AO and DVO. The Tribunal emphasized that no defects were found in the assessee's books and that the base figure for unexplained investments should be the amounts recorded in the books. The assessee's appeal was allowed, and the department's appeal was dismissed. en-us Mon, 26 Sep 1994 00:00:00 +0530 Wed, 20 Apr 2011 15:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70985 The Tribunal ruled in favor of the assessee, deleting the additions made by the AO for unexplained investments in construction. It held that the cost of construction as per the assessee's books should be accepted, rejecting the higher estimations by the AO and DVO. The Tribunal emphasized that no defects were found in the assessee's books and that the base figure for unexplained investments should be the amounts recorded in the books. The assessee's appeal was allowed, and the department's appeal was dismissed. Case-Laws Income Tax Mon, 26 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70985