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

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 information provided by a sub-registrar, which indicated that Smt. Chatterjee had pu...