https://www.taxtmi.com/caselaws?id=768243 The ITAT allowed the appeal, setting aside additions made under Sections 69 and 56(2)(vii) of the Income Tax Act. The AO had incorrectly assumed the property was purchased in AY 2014-15 when the conveyance deed was registered, whereas evidence showed all payments totaling Rs. 77,40,000 were made in AY 2012-13. The Tribunal noted that assessment proceedings were conducted in the name of the deceased assessee who had expired on 15.08.2020, constituting a procedural defect. The ITAT directed deletion of the additions and allowed the appeal. en-us Tue, 01 Apr 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768243 The ITAT allowed the appeal, setting aside additions made under Sections 69 and 56(2)(vii) of the Income Tax Act. The AO had incorrectly assumed the property was purchased in AY 2014-15 when the conveyance deed was registered, whereas evidence showed all payments totaling Rs. 77,40,000 were made in AY 2012-13. The Tribunal noted that assessment proceedings were conducted in the name of the deceased assessee who had expired on 15.08.2020, constituting a procedural defect. The ITAT directed deletion of the additions and allowed the appeal. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768243