https://www.taxtmi.com/caselaws?id=789668 A reference to the Valuation Officer under the Income-tax Act is justified only when material shows that the assessee's declared investment is unreliable and the reference is needed for assessment or reassessment. Where the books of account are neither rejected nor shown to contain specific defects, the DVO report cannot, by itself, support an addition under the unexplained investment provisions. On the facts noted, the books were accepted, no defects were established in the records or expenditure, and the valuation report was the sole basis for the addition; the addition was therefore unsustainable and the appellate order deleting it was affirmed. en-us Thu, 26 Mar 2026 00:00:00 +0530 Sat, 11 Apr 2026 08:53:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789668 A reference to the Valuation Officer under the Income-tax Act is justified only when material shows that the assessee's declared investment is unreliable and the reference is needed for assessment or reassessment. Where the books of account are neither rejected nor shown to contain specific defects, the DVO report cannot, by itself, support an addition under the unexplained investment provisions. On the facts noted, the books were accepted, no defects were established in the records or expenditure, and the valuation report was the sole basis for the addition; the addition was therefore unsustainable and the appellate order deleting it was affirmed. Case-Laws Income Tax Thu, 26 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789668