No Penalty can be levied for unexplained expenditure assessed on the basis of DVO Report

Sathe Biscuits 148 TTJ 10 (Pune)
Amit Estate Organizer (ITAT Ahemdabad) ITA 1206/AHD/2008
Apsara Talkies (Madras High Court) 155 ITR 303
TPK Ramalingam (Madras) 211 ITR 520