https://www.taxtmi.com/caselaws?id=399812 The Appellate Tribunal allowed the appeal, ruling in favor of the assessee by directing the deletion of the addition made under section 69 of the Act. The Tribunal found that the funds amounting to Rs. 12,50,000, invested in purchasing agricultural land, were indeed a gift from the spouse, despite being routed through a partnership firm. The decision was based on the application of relevant provisions of the Act and the specific circumstances of the case, emphasizing the gift nature of the funds. en-us Wed, 08 Jul 2020 00:00:00 +0530 Tue, 20 Oct 2020 12:50:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399812 The Appellate Tribunal allowed the appeal, ruling in favor of the assessee by directing the deletion of the addition made under section 69 of the Act. The Tribunal found that the funds amounting to Rs. 12,50,000, invested in purchasing agricultural land, were indeed a gift from the spouse, despite being routed through a partnership firm. The decision was based on the application of relevant provisions of the Act and the specific circumstances of the case, emphasizing the gift nature of the funds. Case-Laws Income Tax Wed, 08 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399812