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DVO Estimate Alone Not Enough for Unexplained Investment Addition: ITAT Bangalore
Case Law Details
- Case Name
- A K Kupparaju and Brothers Charitable Foundation Trust Vs ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Bangalore
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A K Kupparaju and Brothers Charitable Foundation Trust Vs ACIT (ITAT Bangalore)
DVO Estimate Alone Can’t Create ‘Unexplained Investment’ – ITAT Deletes Additions on Hostel Construction
In a significant ruling, the Bangalore ITAT deleted additions made against a charitable trust solely on the basis of a DVO valuation report, holding that a mere difference in estimated construction cost cannot justify addition u/s 69B unless the department proves actual unaccounted investment with cogent evidence.
The assessee trust had constructed Boys’ and Girls’ Hostels over s...
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