https://www.taxtmi.com/caselaws?id=775407 ITAT dismissed the revenue's appeal and allowed the taxpayer's appeals. Additions under s.153C were deleted because the incriminating documents were recovered from an erstwhile partner, not the assessee or present partners, the legal presumption applied only against that erstwhile partner, and no incriminating material was found on the assessee. Addition under s.69B based on DVO valuation was also deleted: the DVO valuation was subjective, no concrete evidence of unexplained cash investment was found, and allowing concessions for self-supervision and CPWD/PWD rate differentials eliminated the alleged unexplained investment. en-us Mon, 02 Jun 2025 00:00:00 +0530 Tue, 14 Oct 2025 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775407 ITAT dismissed the revenue's appeal and allowed the taxpayer's appeals. Additions under s.153C were deleted because the incriminating documents were recovered from an erstwhile partner, not the assessee or present partners, the legal presumption applied only against that erstwhile partner, and no incriminating material was found on the assessee. Addition under s.69B based on DVO valuation was also deleted: the DVO valuation was subjective, no concrete evidence of unexplained cash investment was found, and allowing concessions for self-supervision and CPWD/PWD rate differentials eliminated the alleged unexplained investment. Case-Laws Income Tax Mon, 02 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775407