https://www.taxtmi.com/caselaws?id=781162 ITAT held that investment in construction of a house, recorded in the books as drawings out of capital and explained by the assessee, could not be treated as unexplained investment under s.69 where the AO failed to objectively rebut that explanation. The Tribunal found the AO's opinion lacked proper appreciation of material on record, so the addition under s.69 was unwarranted and the special tax provisions of s.115BBE were inapplicable. Appeal allowed and assessment revised accordingly. en-us Fri, 29 Aug 2025 00:00:00 +0530 Wed, 12 Nov 2025 08:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781162 ITAT held that investment in construction of a house, recorded in the books as drawings out of capital and explained by the assessee, could not be treated as unexplained investment under s.69 where the AO failed to objectively rebut that explanation. The Tribunal found the AO's opinion lacked proper appreciation of material on record, so the addition under s.69 was unwarranted and the special tax provisions of s.115BBE were inapplicable. Appeal allowed and assessment revised accordingly. Case-Laws Income Tax Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781162