https://www.taxtmi.com/caselaws?id=266842 The Tribunal allowed the appeal in favor of the assessee, deleting the addition of Rs. 1,43,26,000 as undisclosed investment in property. It held that the DVO's report alone was insufficient to justify the addition under section 69B of the Income Tax Act, 1961, emphasizing the lack of concrete evidence beyond the report to substantiate the claim of extra consideration passing between parties. The Tribunal highlighted the importance of corroborative evidence in such cases and ruled in favor of the assessee due to the absence of substantial proof supporting the addition. en-us Wed, 23 Sep 2015 00:00:00 +0530 Mon, 26 Oct 2015 00:46:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266842 The Tribunal allowed the appeal in favor of the assessee, deleting the addition of Rs. 1,43,26,000 as undisclosed investment in property. It held that the DVO's report alone was insufficient to justify the addition under section 69B of the Income Tax Act, 1961, emphasizing the lack of concrete evidence beyond the report to substantiate the claim of extra consideration passing between parties. The Tribunal highlighted the importance of corroborative evidence in such cases and ruled in favor of the assessee due to the absence of substantial proof supporting the addition. Case-Laws Income Tax Wed, 23 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266842