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2010 (5) TMI 497 - AT - Income TaxGift u/s 56 - Addition of income - minor children of the assessee received gifts from the blood brother of the assessee’s mother - Held that: - When section 56 of the Act deems a particular receipt as income from other sources, irrespective of the genuineness of the gift, it is difficult to appreciate as to why the learned CIT(A) had given prominence to the availability of copy of passbook and the mode of receipt of the gift etc., though it was neither the case of the assessee nor the case of the Assessing Officer at the assessment stage - AO was justified in bringing to tax the gift in the hands of the assessee by invoking the provisions of section 56 read with section 64 of the I.T. Act.
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