AO Turns Interior Designer Without DVO – Tribunal Says Nice Try, But No

Advertisement Dulu Mahato Vs DCIT (ITAT Ranchi) In these two appeals for AYs 2012-13 & 2013-14, Assessee, along with his four brothers, jointly owned an ancestral residential property at Dhanbad. AO estimated that renovation/construction of the said ancestral house cost ₹55 lakhs & apportioned ₹27.5 lakhs each in two years. Without any DVO valuation & without examining actual contributions, AO taxed ₹27.5 lakhs in each year entirely in the hands of Assessee alone, treating it as unexplained investment. CIT(A)/NFAC confirmed the addition. Before Tribunal, Assessee argued th...