Unexplained Investment in House – ITAT Cochin Upholds Addition, Allows DVO Challenge in Proper Appeal

Puliyambra Subramanian Udayakumar Vs ITO (ITAT Cochin) ITAT Cochin dismisses appeal on unexplained investment in house construction; directs assessee to challenge DVO valuation separately Assessee, an individual, had not filed a regular return of income for AY 2014-15. Based on information that he had constructed a double-storey residential house at a cost estimated between ₹50–60 lakh, AO issued a notice u/s 142(1).  In response, Assessee filed his return on 26.02.2016 declaring an income of ₹2,40,000. AO completed the assessment u/s 143(3) on 29.12.2016, determining total income at ...