https://www.taxtmi.com/caselaws?id=280719 The Tribunal ruled in favor of Dr. S.V. Krishna Reddy in various issues, including chit transactions where unexplained investments were deleted due to lack of corroboration by Revenue. Additionally, the Tribunal found the reference to the valuation officer unjustified in the difference in cost of construction cases, leading to the deletion of most additions. However, the claim for exemption under section 54F for a hostel building was rightly disallowed. The unrecorded investment issue was resolved in favor of the assessees, with the Tribunal holding that the investments were explained and recorded in the books of account. Multiple appeals were allowed or dismissed accordingly. en-us Fri, 29 Oct 2010 00:00:00 +0530 Sat, 18 May 2019 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280719 The Tribunal ruled in favor of Dr. S.V. Krishna Reddy in various issues, including chit transactions where unexplained investments were deleted due to lack of corroboration by Revenue. Additionally, the Tribunal found the reference to the valuation officer unjustified in the difference in cost of construction cases, leading to the deletion of most additions. However, the claim for exemption under section 54F for a hostel building was rightly disallowed. The unrecorded investment issue was resolved in favor of the assessees, with the Tribunal holding that the investments were explained and recorded in the books of account. Multiple appeals were allowed or dismissed accordingly. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280719