https://www.taxtmi.com/caselaws?id=215129 An addition for unexplained investment in immovable property cannot be sustained merely on a Departmental Valuation Officer's estimate where the assessee supports the declared purchase price with stamp duty valuation and comparable instances from the same or nearby locality. In the absence of independent cogent material showing payment over and above the stated consideration, the valuation report alone is insufficient to justify an addition under section 69B. On these facts, the assessee's declared consideration was accepted and the addition was deleted. en-us Fri, 29 Jun 2012 00:00:00 +0530 Tue, 24 Jul 2012 14:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215129 An addition for unexplained investment in immovable property cannot be sustained merely on a Departmental Valuation Officer's estimate where the assessee supports the declared purchase price with stamp duty valuation and comparable instances from the same or nearby locality. In the absence of independent cogent material showing payment over and above the stated consideration, the valuation report alone is insufficient to justify an addition under section 69B. On these facts, the assessee's declared consideration was accepted and the addition was deleted. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215129