Unexplained Bungalow Renovation Costs Lead to Section 69 Addition; Taxpayer's Property Valuation Rejection Unjustified by AO.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Unexplained investment on renovation of bungalow - addition u/s 69 - AO referred the matter to the DVO - in the absence of any discrepancy noted by the Revenue Department it was not justifiable to reject the valuation of the property as submitted by the assessee - AT....