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, as held by KarHC in CIT and Anr v R Hanumaiah Associates — In favour of: The assessee; ITA Nos 3225, 3224 of 2005.
Appeal — Finding of facts arrived by the Tribunal is not liable to be interfered in an appeal unless found to be arbitrary or perverse.
Decided on: 12 July 2011.
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