Unexplained investment in fixed assets - assessee has inflated the value of machinery and office...

Unexplained investment in fixed assets - assessee has inflated the value of machinery and office equipment - When the there is no actual investment of any kind by the assessee during the assessment year especially in absence of any receipt voucher, payment voucher, bills, vouchers payment proof, etc. provisions of section 69 are not applicable - the disallowance, if any could have been made by re-computing the depreciation on account of wrong figure of closing and opening balance of WDV but no addition u/s 69 could have been made. - AT .....

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