https://www.taxtmi.com/caselaws?id=340455 Different valuation dates and market rates may explain a jewellery valuation mismatch without creating unexplained investment under section 69A, where the asset is consistently reflected and no fresh purchase from undisclosed income is shown. Jewellery valuation charges need factual verification if they are said to have been debited to the capital account rather than claimed as business expense. Car investment can be accepted when purchase documents, finance records, insurance papers, and earlier declaration support the explanation. Where exempt income is earned and the assessee does not give an account-based explanation of no related expenditure, disallowance under section 14A read with Rule 8D(2)(iii) is sustainable. en-us Fri, 17 Mar 2017 00:00:00 +0530 Wed, 22 Mar 2017 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340455 Different valuation dates and market rates may explain a jewellery valuation mismatch without creating unexplained investment under section 69A, where the asset is consistently reflected and no fresh purchase from undisclosed income is shown. Jewellery valuation charges need factual verification if they are said to have been debited to the capital account rather than claimed as business expense. Car investment can be accepted when purchase documents, finance records, insurance papers, and earlier declaration support the explanation. Where exempt income is earned and the assessee does not give an account-based explanation of no related expenditure, disallowance under section 14A read with Rule 8D(2)(iii) is sustainable. Case-Laws Income Tax Fri, 17 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340455