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2013 (12) TMI 1062 - ITAT CHENNAIGift received – definition of 'relative' as provided under Explanation to section 56(2)(v) - Held that:- A perusal of the term "relative" used in the section clearly shows that mother's sister's son does not fall within the definition of 'relative' - The amount received by the assessee from mother's sister's son does not qualify for the benefit – Decided in favour of Revenue. Loan taken – Held that:- The assessee has failed to substantiate his claim with documentary evidence either during the assessment proceedings or appellate proceedings with respect to identity and genuineness of the lenders of the loan - The documents which were produced before the CIT(A) were never submitted by the assessee before the Assessing Officer, which is in violation of Rule 46A – The issue was restored for fresh decision.
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