\u00a0<\/p>\n
Held that the assessee, having purchased a residential house jointly with his wife and duly explained the source of his share of investment in the property on the basis of his savings kept in various bank accounts, housing loan and the sale proceeds of a plot,\u00a0 addition was deleted. As regards the reassessment, the Tribunal held that the PCIT recorded her satisfaction after clearly applying her mind to the reasons recorded by the AO before giving approval, the approval under s. 151 was properly granted. (AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 69: Unexplained investments-Purchase of house property-Residential house was purchased in joint names by the assessee along with his wife-Explained the source of investment-Addition was not valid-Reassessment-Information was received from the office of the Sub-Registrar under s. 285BA Sanction for reassessment was valid-PCIT has recorded the satisfaction-Approval was valid. [S. 133(6), 147, 148, 151, 285B]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61547","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g0H","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61547","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=61547"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61547\/revisions"}],"predecessor-version":[{"id":61548,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61547\/revisions\/61548"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}