In a significant ruling with implications for family-funded property transactions across India, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has held that the absence of a formal gift deed, by itself, cannot justify treating a property purchase as an unexplained investment when the source of funds is clearly established. The decision comes at a […]

ITAT Upholds Family Property Funding, Says Absence of Gift Deed Alone Cannot Trigger Tax Additionmore