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2012 (7) TMI 617 - AT - Income TaxAddition under section 69 as unexplained investment - source for the construction amount - Assessing Officer made addition as per the valuation determined by the Department Valuation Officer - appellant has submitted a reason for the purchase of adjoining small piece of land. The land owned by him and on which Hotel Hill View was constructed an unapproved one – Held that:- Construction was done by Mrs. A.K. Singh and there is no evidence brought on record that the construction was done by the assessee. No material evidence was brought on record to prove that the assessee had source for the construction and therefore, no addition is warranted in the hands of the assessee towards cost of construction – addition deleted
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