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1. Genuineness of gift - The capacity of any person does not mean how much they earn monthly or annually, but the term capacity has vided term and that can be perceived by...

2. Foreign gifts received - NRI gift could not be accepted as genuine unless the assessee was able to prove natural love and affection and financial capacity of the donor - HC

3. Gift from stranger - NRI gift could not be accepted as genuine unless the assessee was able to prove natural love and affection and financial capacity of the donor - HC

4. Addition regarding gift received from father - Father is not filing ITR having agriculture income - merely because a person, giving gift to his son, is not filing return...

5. Addition of unsecured loan as a gift - gift from unrelated persons treated as assessee’s income u/s.56(vi) - simply because husband has treated his loan as a gift to his...

6. Scope of the term "fiduciary capacity" - Benami Transactions (Prohibition) Act, 1988 - SC

7. Allowability of deduction u/s 36(1)(viii) - specified entity being the cooperative bank - The term “long term finance” has been defined under clause (h) to mean any loan...

8. One Person Company - Meaning of the term "resident in India" who is eligible to incorporate one person company amended - Rule 3 of the Companies (Incorporation) Rules, 2014.

9. Addition in view of the Provisions of section 50C on the Gift of Plots - Transfer of property by a Company as a gift - AO concluded how the gift by one company to other...

10. Addition u/s 68 - it is seen that the this Gift is given from donor's NRE bank account maintained with Axis Bank. It entails particulars of cheque number, date of giving...

11. THE INCOME DECLARATION SCHEME, 2016 - Meaning of various terms defined.

12. Benefit under EPCG Scheme denied - The first part of the definition of capital goods uses the term ‘means’. The term ‘means’ is exhaustive in nature and is meant to...

13. The term “non-resident” means a person who is not a resident as per section 2(30) of the Income Tax Act and for the purposes of sections 92, 93 and 168, includes a...

14. Addition u/s 68 - By "right person", we mean the person who is liable to be taxed, according to law, with respect to a particular income. The expression "wrong person"...

15. Unexplained gifts – Donee denied to make gifts – transaction is not genuine but colorable – money is routed indirectly from the firm to the assessee's account under...