Man Challenges Rs 55.2 Lakh Income Tax Addition on Joint Property Purchase
A man who bought a residential property jointly with his wife and father received a Rs 55.2 lakh addition notice from the Income Tax Department. The department reopened his 2016-17 assessment after detecting the purchase during 2015-16 via its Risk Management Strategy. The man contested the addition and its calculation before the Income Tax Appellate Tribunal (ITAT).
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