https://www.taxtmi.com/caselaws?id=155724 The appeals were disposed of in favor of the assessee-respondent. The Tribunal's decision to delete the amount on account of unexplained investment in property was upheld, as the value adopted for stamp duty could not be considered as sale consideration. Additionally, the Tribunal's failure to direct a reference to the Valuation Officer was deemed unnecessary as the creditworthiness for making gifts was substantiated through bank statements and transactions. Therefore, the questions raised were answered against the revenue in favor of the assessee-respondent. en-us Mon, 15 Feb 2010 00:00:00 +0530 Sat, 07 Sep 2013 10:28:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155724 The appeals were disposed of in favor of the assessee-respondent. The Tribunal's decision to delete the amount on account of unexplained investment in property was upheld, as the value adopted for stamp duty could not be considered as sale consideration. Additionally, the Tribunal's failure to direct a reference to the Valuation Officer was deemed unnecessary as the creditworthiness for making gifts was substantiated through bank statements and transactions. Therefore, the questions raised were answered against the revenue in favor of the assessee-respondent. Case-Laws Income Tax Mon, 15 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155724