Assessee did not file return of income claiming that her income was below exemption limit. She had purchased an immovable property. Assessing Officer issued notice under section 148A(b) and made addition of purchase consideration under section 69A. On writ the Assessee contended that immovable property was purchased from funds provided by her husband directly to vendor. \u00a0However, assessee did not submit return of income of her husband or ledger account, if any, relating to purchase of said property. Court held that \u00a0if husband of assessee duly declared said income and paid applicable taxes thereon, grave injustice would be caused inasmuch as same income would be subjected to tax in hands of two persons accordingly the assessment order \u00a0is \u00a0set aside and matter was to be remanded to AO. For\u00a0 failure to comply with notices, the petitioner is directed to pay cost of Rs.10000, to the Adyar Cancer Institute Chennai. As regards other addition on the basis of stamp valuation is affirmed. \u00a0(AY. 2019-20)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 143(3): Assessment-Income from undisclosed sources-Investment in immovable property-Books of account-Matter is remanded to the Assessing Officer-Failure to comply with notices, directed to pay cost of Rs.10000, to the Adyar Cancer Institute Chennai-Addition on the basis of stamp valuation is affirmed. [S. 56(2) (viib), 56(2) (x) (b)(B), 69A, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-49043","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cL1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=49043"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49043\/revisions"}],"predecessor-version":[{"id":49044,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49043\/revisions\/49044"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=49043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=49043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=49043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}