Land deemed belonging to assessee if exp. incurred for making it suitable for sale was duly supported by doc.

Where assessee a real estate developer claimed expenditure incurred for making land suitable for sale and expenditure was supported by documents seized at time of search, benefit of presumption under section 132(4A) would be available to assessee and there would be no need for further proof under section 37, since Assessing Officer did not endeavour to carry out investigation into genuineness of expenditure made

Refer:[2018] 89 taxmann.com 70 (Kerala)