Sunday, October 9, 2011

No addition can be made , the unexplained investment on the basis of the DVO findings

CIT and Anr Vs. R Hanumaiah Associates [ITA Nos 3225, 3224 of 2005, dtd. 12.07.2011]
No addition can be made on account of the unexplained investment on the basis of the DVO findings when the assessee satisfactorily explains that the difference was on account of the construction expenditure incurred, which was not considered by the DVO.
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Dear Friends : The emails are schedule to be posted in the blog (itronline.blogspot.com)and will sent to the group on various dates and time fixed. Instead of sending it on one day.
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