Man jointly bought Rs 80 lakh property with father and wife but didn’t file ITR; taxman added Rs 55.2 lakh as unexplained money, but ITAT grants relief after proof of family contributions
The bench examined the additional evidence submitted by the man, including banking records and documents. (Image for representative purpose only) A man bought a residential property along with his wife and father. However, he did not file his income tax return for the year.The tax department opened his case for reassessment and adding Rs 55.2…
