https://www.taxtmi.com/caselaws?id=180472 The Assessing Officer's addition under section 69 for unexplained investment in building construction was upheld due to unreliable records. The Valuation Officer's assessment of property value was deemed unlawful without rejecting the books of account. Exemption under sections 11 and 10(23c)(iiiad) was initially denied but later allowed by the ITAT. The ITAT partially allowed the appeal, directing the A.O. to grant benefits under Section 11/10(23C) if any addition is sustained and addressing the charging of interest under section 234B. en-us Fri, 08 Mar 2013 00:00:00 +0530 Thu, 25 May 2017 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180472 The Assessing Officer's addition under section 69 for unexplained investment in building construction was upheld due to unreliable records. The Valuation Officer's assessment of property value was deemed unlawful without rejecting the books of account. Exemption under sections 11 and 10(23c)(iiiad) was initially denied but later allowed by the ITAT. The ITAT partially allowed the appeal, directing the A.O. to grant benefits under Section 11/10(23C) if any addition is sustained and addressing the charging of interest under section 234B. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180472