https://www.taxtmi.com/caselaws?id=385860 The Tribunal upheld the CIT(A)'s decision to delete the addition of unexplained investments under Section 68, based on shares issued in lieu of land transfer. The Tribunal deemed the valuation report by the Departmental Valuation Officer as invalid due to late submission, leading to dismissal of additions based on it. The Tribunal did not address deductions for self-supervision and rate differences, as the primary issue of the report's validity was decisive. Consequently, the Tribunal dismissed both the revenue's appeals and the assessee's cross-objections, affirming the CIT(A)'s rulings on all aspects. en-us Fri, 06 Sep 2019 00:00:00 +0530 Mon, 16 Sep 2019 11:12:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385860 The Tribunal upheld the CIT(A)'s decision to delete the addition of unexplained investments under Section 68, based on shares issued in lieu of land transfer. The Tribunal deemed the valuation report by the Departmental Valuation Officer as invalid due to late submission, leading to dismissal of additions based on it. The Tribunal did not address deductions for self-supervision and rate differences, as the primary issue of the report's validity was decisive. Consequently, the Tribunal dismissed both the revenue's appeals and the assessee's cross-objections, affirming the CIT(A)'s rulings on all aspects. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385860