Judgement

The Tribunal carefully analysed the submissions and observed that the assessee had submitted all the required documents to prove that the property was bought by her husband.

No Income Tax Addition for Unexplained Investment on Wife When Husband Funded Property Purchase: ITAT

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ITAT Mumbai upheld the investor’s Rs. 8.79 crore capital gain as genuine, rejecting the Revenue’s penny stock allegation for lack of evidence.

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The court observed that neither the revenue nor the Appellate Authority have mentioned any findings against the petitioner, which shows that the petitioner has claimed ITC by reason of fraud, misstatement, or suppression of fact.

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No Income Tax Addition for Unexplained Investment on Wife When Husband Funded Property Purchase: ITAT

CA Criticizes ICAI’s Exam Reforms, Calls for Quality Over Quantity

SC Restores Criminal Trial Over Fake Caste Certificate Election Fraud to Face Full Judicial Scrutiny

ITC Cannot Be Denied If Supplier’s GST Registration Was Cancelled Later: Allahabad High Court

ITAT Mumbai Upholds Rs. 8.79 Crore Share Gain as Genuine, Rejects Bogus Penny Stock Allegation

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