Held that merely on the basis of valuation report of the Department Valuation Officer, addition cannot be made. Held that as the whole basis of rejection of books of account was the difference in amount invested in the building and that was held not justified, there was no justifiable basis for rejection of books of account.  That the only ground for disallowing the current year’s business loss and not allowing it to be carried forward was rejection of books of account under section 145(3) of the Act. Since, the very basis of rejection of books of account was not sustainable, there was no basis for denying the current year business loss and carry forward thereof for set off in subsequent years. (AY.2017-18 to 2019-20)