https://www.taxtmi.com/caselaws?id=424927 The Tribunal ruled in favor of the assessee, setting aside the Ld. CIT(A)'s decision to add Rs. 6 lakhs as unexplained money to the assessee's income. The Tribunal found that the transaction between the husband and wife, involving the purchase of an immovable property, did not entail actual consideration transfer. It concluded that the sale deed was primarily for stamp duty purposes, with no real money exchange occurring. Therefore, the Tribunal held that the provisions of section 69 of the Act regarding unexplained investments were not applicable in this case, ultimately allowing the assessee's appeal. en-us Tue, 28 Jun 2022 00:00:00 +0530 Tue, 12 Jul 2022 09:14:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424927 The Tribunal ruled in favor of the assessee, setting aside the Ld. CIT(A)'s decision to add Rs. 6 lakhs as unexplained money to the assessee's income. The Tribunal found that the transaction between the husband and wife, involving the purchase of an immovable property, did not entail actual consideration transfer. It concluded that the sale deed was primarily for stamp duty purposes, with no real money exchange occurring. Therefore, the Tribunal held that the provisions of section 69 of the Act regarding unexplained investments were not applicable in this case, ultimately allowing the assessee's appeal. Case-Laws Income Tax Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424927