Unexplained Money: ₹6.90 Lakh Addition u/s 68 Deleted as Cash Belonged to Seven Legal Heirs

Truptiben Nilangkumar Trivedi Vs ITO (ITAT Ahmedabad)

Cash Component of Property Sale Was Jointly Held by Seven Legal Heirs – Entire ₹6.90 Lakh Cannot Be Assessed in Hands of One Co-Owner; Addition u/s 68 Deleted

Assessee, one of seven legal heirs of late Shri Kantibhai Mujibhai Patel, challenged addition of ₹6,90,000/- treated as unexplained cash u/s 68. The property had been occupied for decades by a long-standing tenant who gradually paid cash in small instalments to the original owner. After the owner’s death, the property devolved upon seven hei

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