https://www.taxtmi.com/caselaws?id=185056 The Tribunal allowed the appeal, deleting the additions made by the Assessing Officer and upheld by the CIT(A). In the first issue, the Tribunal held that the Assessing Officer could not rely on the DVO's report without rejecting the books of accounts, ultimately deleting the addition of Rs. 55,952 for unexplained investment in the factory building. Regarding the second issue, the Tribunal found that the assessee proved the identity, creditworthiness, and genuineness of the transactions, leading to the deletion of the addition of Rs. 4.15 lacs under section 68 of the Act. en-us Fri, 12 Oct 2012 00:00:00 +0530 Fri, 29 Jul 2016 14:54:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185056 The Tribunal allowed the appeal, deleting the additions made by the Assessing Officer and upheld by the CIT(A). In the first issue, the Tribunal held that the Assessing Officer could not rely on the DVO's report without rejecting the books of accounts, ultimately deleting the addition of Rs. 55,952 for unexplained investment in the factory building. Regarding the second issue, the Tribunal found that the assessee proved the identity, creditworthiness, and genuineness of the transactions, leading to the deletion of the addition of Rs. 4.15 lacs under section 68 of the Act. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185056