*******Joint Property Bought by Husband, Entirely His Investment: ITAT Deletes Addition in Wife’s Hands

Clipped from: https://taxguru.in/income-tax/joint-property-bought-husband-investment-itat-deletes-addition-wifes-hands.html

Smt. Mita Chatterjee Vs ITO (ITAT Delhi)

The Income Tax Appellate Tribunal (ITAT), Delhi, has sided with an individual assessee, Smt. Mita Chatterjee, by deleting an addition of over ₹70 lakh that had been made to her income as an unexplained investment. The tribunal’s order established that when the source of funds for a joint property is fully accounted for by one of the co-owners, no addition can be made in the hands of the other, even if their name appears on the property deed.

The case originated from

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