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2021 (8) TMI 612 - AT - Income TaxInvestment in immovable property - co-ownership - 50% addition - appellant’s share of investment in purchase of immovable property overlooking the facts and assessment completed with respect to same property in the case of appellant’s spouse, the primary holder - HELD THAT:- From the aforesaid details which are duly supported by the statement of accounts of husband of assessee, we find that the entire payment of sale consideration of flat in dispute was paid by the husband of assessee. We further noted that similar issue was examined by the AO/ACIT-35, Mumbai and accepted the similar explanation for reopening of case and no addition was made in the assessment order dated 26/12/2011. In view of the aforesaid factual discussions, we are of the view that additions in the hand of the assessee is not justified, which were fully explained before ld CIT(A). The grounds of appeal raised by the assessee are allowed. In the result, appeal of the assessee is allowed.
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