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TMI Blog2008 (5) TMI 249X X X X Extracts X X X X X X X X Extracts X X X X ..... d by C.N. RAMACHANDRAN NAIR, J. - This is an appeal filed by the assessee challenging the addition sustained by the Tribunal under Section 69B of the Income Tax Act, 1961. The Assessee is a firm which was engaged in running of a tourist home. During search conducted on 9.10.1987, the department noticed creation of asset in the form of a building constructed by the assessee. The investment account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Income-tax (Appeal). 2. Even though assessee has raised several questions of law, we do not think any question raised is a substantial question of law on which only appeal is maintainable under Section 260A of the Income Tax Act. The unexplained investment is deemed income of the year in which investment is made as provided under Section 69B of the Act. The issue raised in this case onl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d be treated as the income of the year in which investment is made. There is nothing on record to prove the stage of construction of the building at the time of acquisition by the firm and the period during which subsequent additions to the building was made. The claim for spreading over of the investment for several years can be granted only if it is proved that the investment is made in several ..... X X X X Extracts X X X X X X X X Extracts X X X X
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