This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section Addition needs to be allocated between joint beneficial owners: ITAT Raipur
Case Law Details
- Case Name
- Prem Singh Saluja Vs ITO (ITAT Raipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Raipur
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Prem Singh Saluja Vs ITO (ITAT Raipur)
ITAT Raipur held that entire addition of transaction in the hands of assessee under section 69 of the Income Tax Act as unexplained investment not tenable since the same needs to be allocated between joint beneficial owners. Thus, matter restore back to file of AO.
Facts- The assessee is an individual, engaged in the business of Transporting. As per information, it is revealed that the assessee had purchased immovable property valued at 51,88,101/- (Fair Market Value at Rs. 79,44,000/-) in FY 2010-11. It is further noted by AO, that the assessee had not f...
Author Info
