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Income Tax - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Addition u/s. 69B - unexplained investment in residential ...

Income Tax

March 11, 2016

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 account, being rejected. Since the books of account had not been rejected in the present case, no addition to be made - AT

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  1. 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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  8. Re-opening of assessment u/s 147 of the Act on the basis of D.V.O.'s report - the opinion of the DVO per se is not an information for the purposes of reopening assessment - HC

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