Tribunal Protects Woman Assessee: No Burden to Prove Credit worthiness of Husband & Sons

ITO Vs Usha Rani (ITAT Delhi) Tribunal Protects Woman Assessee: No Burden to Prove Creditworthiness of Husband & Sons: Property Investment by Senior Citizen- AO’s Addition Quashed – Family Contributions for Property Accepted as Genuine- ITAT Delhi Deletes Rs.1.10 Cr Addition Revenue appealed against order of CIT(A) deleting addition of Rs.1,10,25,000/- made u/s 69 on account of unexplained investment in property. AO reopened assessment based on AIR information that Usha Rani, a senior citizen, purchased property for Rs.1,05,00,000/- (her share) plus Rs.5,25,000/- stamp duty. AO held t...