ITAT Pune Deletes ₹1.02 Cr Addition as Income Taxed in Husband’s Hands

Rimple Saxena Vs ITO (ITAT Pune) Income Tax Appellate Tribunal (ITAT) Pune allowed the appeal of Rimple Saxena, deleting the Rs. 1.02 crore addition made by the Assessing Officer (AO) as short-term capital gains. The dispute arose after the AO found that Saxena had not filed her income tax return for the assessment year 2013-14, despite selling an immovable property for Rs. 1.02 crore. Consequently, the AO issued a notice under Section 148 and later passed an ex parte assessment order under Section 144, treating the entire sale consideration as the assessee’s income. When Saxena failed to re...