https://www.taxtmi.com/caselaws?id=267266 The Court ruled in favor of the Assessees, setting aside the ITAT, AO, and CIT (A) orders regarding the addition under Section 69B of the Income Tax Act for the Assessment Year 1994-95. The Court held that the additions based solely on the DVO report were unsustainable in law, emphasizing that a DVO report alone cannot justify such additions without additional supporting evidence. The Court distinguished this case from precedents where DVO reports were corroborative, ultimately leading to the decision in favor of the Assessees with no costs awarded. en-us Wed, 28 Oct 2015 00:00:00 +0530 Tue, 03 Nov 2015 06:17:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267266 The Court ruled in favor of the Assessees, setting aside the ITAT, AO, and CIT (A) orders regarding the addition under Section 69B of the Income Tax Act for the Assessment Year 1994-95. The Court held that the additions based solely on the DVO report were unsustainable in law, emphasizing that a DVO report alone cannot justify such additions without additional supporting evidence. The Court distinguished this case from precedents where DVO reports were corroborative, ultimately leading to the decision in favor of the Assessees with no costs awarded. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267266