ITAT Bangalore Deletes Double Taxation of Capital Gains in Wife’s Hands

Shanthi Violet Rodrigues Vs ITO (ITAT Bangalore) Double Taxation of Capital Gains Deleted – Addition of ₹27 Lakh in Wife’s Hands Unsustainable-ITAT Bangalore Bangalore ITAT has held that once the entire capital gains on sale of property has been offered in the return of income of husband, the same income cannot again be taxed in the hands of wife merely because she was a joint owner. Assessee, jointly owned a flat along with her husband. The property was sold in July 2019 for ₹54,00,000/-. It was explained before AO that the entire investment in the flat was made by the husband &...