Investment in hotel building not explained. DVO report estimation-based, no incriminating material found. 4-star hotel qualifies for deduction.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Assessment u/s 153A - unexplained investment in Hotel Building - addition under sec 69 r.w.s. 115BBE - reliance on DVO report post-search - Held, DVO report estimation-based, no incriminating material found during search, addition not valid. Rejection of books u/s 145(3) - difference in investment amount, books not rejected due to deletion of difference. Disallowance of current year business loss - unjustified due to sustainable books rejection. Disallowance u/s 35AD - hotel building expenditure - 4-star rating obtained, qualifies for deduction, AO's misinterpretation rejected, claim allowed.....