Couple bought flat jointly for Rs 60 lakh, stamp value was Rs 94.81 lakh; taxman added entire Rs 34.81 lakh gap to husband’s income, why ITAT said it’s not justified
Although the flat was jointly owned by the husband and wife, the tax officer added the entire Rs 34.8 lakh difference to the husband’s income. You buy a house jointly with your wife. When you register it the stamp duty value is higher, and the Income Tax Department decides to place the full tax liability […]
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