Whether the Tribunal was justified in deleting the unexplained investment on the fact that there was no difference in the cost of construction declared by the Assessee and that worked out by the DVO

CIT and Anr Vs R Hanumaiah Associates (Karnataka High Court) – 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.

CIT and Anr v R Hanumaiah Associates

Decided By- Karnatka High Court

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