https://www.taxtmi.com/caselaws?id=470907 Valuation-based additions for unexplained construction investment require rejection of the books before a Departmental Valuation Officer's report can support an addition. Additional evidence may be admitted where delayed production is reasonably explained and the material is examined in remand without authenticity concerns. Capital and cash-credit additions fail where banking records, PAN details, returns and confirmations establish identity, creditworthiness and genuineness without rebuttal. Adequate interest-free funds support the presumption that interest-free advances came from those funds. Depreciation on vehicles within a block of assets remains allowable despite personal-use disallowance of vehicle expenses. Books cannot be rejected solely for absence of a stock register, and uncorroborated, unconfronted third-party material cannot sustain unexplained-investment additions. en-us Fri, 06 Oct 2023 00:00:00 +0530 Thu, 13 Aug 2026 11:11:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470907 Valuation-based additions for unexplained construction investment require rejection of the books before a Departmental Valuation Officer's report can support an addition. Additional evidence may be admitted where delayed production is reasonably explained and the material is examined in remand without authenticity concerns. Capital and cash-credit additions fail where banking records, PAN details, returns and confirmations establish identity, creditworthiness and genuineness without rebuttal. Adequate interest-free funds support the presumption that interest-free advances came from those funds. Depreciation on vehicles within a block of assets remains allowable despite personal-use disallowance of vehicle expenses. Books cannot be rejected solely for absence of a stock register, and uncorroborated, unconfronted third-party material cannot sustain unexplained-investment additions. Case-Laws Income Tax Fri, 06 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470907