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2015 (2) TMI 772 - HC - Income TaxUnexplained investment under Section 69B - assessee refereed matter to DVO - CIT(A) deleted the additions made for the assessment years 1994-1995 and 1995-1996, and directed the entire unexplained investment to be assessed as income for the assessment year 1996-1997 also confirmed by Tribunal - Held that:- In the case on hand, it is beyond any cavil that the books of account furnished by the assessee were never rejected. No explanation was called for from the assessee stating that there was concealment or understatement of amount in the books of account. The initial burden cast on the department to prove that there was understatement or concealment of income has not been discharged and, therefore, the Assessing Officer is not empowered to refer the matter to the Departmental Valuation Officer or rely on such report. - Decided in favour of the assessee
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