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Income Tax - Highlights / Catch Notes

Home Highlights December 2015 Year 2015 This

Addition u/s 69B - unexplained investment - reference to the ...

Income Tax

December 30, 2015

Addition u/s 69B - unexplained investment - reference to the DVO without rejecting the books of account is bad and therefore the valuation report submitted consequent thereto cannot be relied on for making an addition - AT

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  1. Addition u/s. 69B - unexplained investment in residential bungalows - the opinion of the DVO per se was not an information and could not be relied upon without books of...

  2. Unexplained investment - No addition can be made on the basis of the report of the DVO without the books of account being rejected, wherein expenditure relating to the...

  3. Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

  4. Reference to Departmental valuation officer [DVO] without first rejecting the books of accounts - The Court reiterated the importance of rejecting the books of accounts...

  5. IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

  6. Unexplained investment u/s. 69 - Asstt. Comm. of Commercial Taxes estimated the valuation of WIP without mentioning the quantity or rate of the individual item - AO...

  7. Validity of making a reference to the DVO u/s 142A - unexplained expenditure u/s 69C - ejection of books of accounts is a pre-condition for making a reference to DVO and...

  8. Addition u/s 69C - asessing authority could not have referred the matter to the DVO without the books of account being rejected - additions deleted - AT

  9. Before making reference to the DVO for estimating the cost of investment in the construction of property, the books of account maintained by the assessee in this regard...

  10. Addition u/s 69B on the basis of DVO's report only - Unexplained investment in the hotel building - 99 years lease deed was converted to a sale deed - registered valuer...

  11. Sum advanced to sister concern by cheques drawn – Unexplained investment or not - it has been rightly treated as unexplained investment in terms of Section 69B of the...

  12. Unexplained investment in immovable property - addition u/s 69 - AO, before referring the matter to DVO for valuation of the investment in the property, should have...

  13. Addition u/s 69 - Unexplained investment or not - only when the investment is not recorded in the books of accounts or the explanation by the assessee regarding the...

  14. Difference in the investment as shown by the assessee and as ascertained by DVO - addition u/s 69 or 69B - the condition precedent for making a reference to the DVO is...

  15. Addition u/s 69B - there is no evidence other than the report of the DVO and, therefore, the same cannot be relied upon for making an addition - no addition - HC

 

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