https://www.taxtmi.com/caselaws?id=311310 ITAT Ahmedabad dismissed Revenue's appeal challenging deletion of addition for unexplained investment in residential building construction. The tribunal held that mere DVO valuation report is insufficient to establish unexplained investment without additional incriminating material. Revenue failed to produce evidence beyond books of accounts during search proceedings. CIT(A)'s deletion of addition was confirmed as DVO report alone cannot support unexplained investment allegations without corroborating evidence. en-us Wed, 28 Oct 2015 00:00:00 +0530 Wed, 20 Dec 2023 06:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311310 ITAT Ahmedabad dismissed Revenue's appeal challenging deletion of addition for unexplained investment in residential building construction. The tribunal held that mere DVO valuation report is insufficient to establish unexplained investment without additional incriminating material. Revenue failed to produce evidence beyond books of accounts during search proceedings. CIT(A)'s deletion of addition was confirmed as DVO report alone cannot support unexplained investment allegations without corroborating evidence. Case-Laws Income Tax Wed, 28 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311310