Unexplained investment u/s 69 - family transaction - assessee ...

Case Laws     Income Tax

June 10, 2022

Unexplained investment u/s 69 - family transaction - assessee has submitted that the assessee’s husband was a power of attorney holder of the property and could not convey the property as an agent and therefore, to avoid future litigation and to secure better title over the property, a sale deed in favour of the assessee, being the wife was executed - if we go by the narrations in the Sale deed, then the assessee’s claim that the impugned transaction is a “family transaction” where no consideration has passed is liable to be rejected since the actual vendor of the impugned property is not the Husband of appellant (POA holder) - AT

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