Padmakshi Chakraborty Vs ITO Ward-25(1), Kolkata
Case No: ITA No.2279/KOL/2025
Court: INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA
Date: 12/23/2025
Parties Involved
appellantPadmakshi Chakraborty
respondentITO Ward-25(1), Kolkata
Facts Summary
The assessee, Padmakshi Chakraborty, purchased a property during the financial year 2019-2020 for Rs.32 lakhs, with a market value of Rs.46,89,600/- and paid stamp duty of Rs.3,60,307/-. The case was reopened under section 147 of the Act after the Assessing Officer received information about the property purchase. The assessee did not provide evidence for the source of funds for the property purchase and stamp duty during the assessment proceedings. Consequently, the Assessing Officer treated th…
Decision in favour of
Assessee
Legal Issues
- 1. Confirmation of addition of Rs.32 lakhs and Rs.3,60,307/- made under sections 69 & 69C of the Act, respectively, in respect of purchase of a property by the assessee.