https://www.taxtmi.com/caselaws?id=171216 The High Court upheld the decisions of the lower authorities regarding the assessment of unexplained investment under section 69 of the Income-tax Act, 1961. The Assessing Officer's reliance on the Departmental Valuation Officer's report was deemed insufficient, as the officer failed to provide substantial evidence to support the addition to the assessee's income. The Commissioner of Income-tax (Appeals) and the Tribunal found the approved valuer's report submitted by the assessee to be valid, based on land rates fixed by the L&DO. The High Court concluded that no substantial question of law arose and dismissed the revenue's appeal. en-us Thu, 14 Sep 2006 00:00:00 +0530 Mon, 13 Jul 2015 18:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171216 The High Court upheld the decisions of the lower authorities regarding the assessment of unexplained investment under section 69 of the Income-tax Act, 1961. The Assessing Officer's reliance on the Departmental Valuation Officer's report was deemed insufficient, as the officer failed to provide substantial evidence to support the addition to the assessee's income. The Commissioner of Income-tax (Appeals) and the Tribunal found the approved valuer's report submitted by the assessee to be valid, based on land rates fixed by the L&DO. The High Court concluded that no substantial question of law arose and dismissed the revenue's appeal. Case-Laws Income Tax Thu, 14 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171216