Cash Purchase of Property with Family Support: ITAT deletes Addition [Read Order]

Cash Purchase - Property - Family Support - ITAT - Addition - taxscan

The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition made by the income tax department towards the cash purchase of the property using funds pooled by the family members. The assessee, Shri Gurmeet Kaur Khurana had invested an amount of Rs.6 lacs for immovable property with M/s Bajwa Developers Ltd….

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