Husband’s Money, Wife’s Name – AO Missed Obvious- ITAT Ahmedabad Quashes ₹51.9 Lakh Addition u/s 69

Renu Jagdishwar Sood Vs ITO (ITAT Ahmedabad) Unexplained Property Investment Case: Addition Deleted When Co-Owner (Husband) Made Payments; Ex-Parte Assessment Challenged: Authorities Must Verify Evident Facts in Unexplained Investment Cases; Section 69 Addition Fails: Investment Not in Relevant Year & Paid by Co-Owner’s Husband AO reopened assessment based on information from the Sub-Registrar’s Office that Assessee had purchased property worth ₹51.92 lakh, allegedly representing unexplained investment u/s 69. Assessee did not attend proceedings, leading to an ex-parte assessment...