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2016 (4) TMI 669 - AT - Income TaxReceipt by the assessee from the HUF of which the assessee was the member - term ‘relative’ under the provisions of section 56(2) of the I.T. Act - treatment to gift received - Held that:- the "relative" explained in Explanation to s. 56(2)(vi) of the Act includes "relatives" and as the assessee received gift from his "HUF", which is "a group of relatives", the gift received by the assessee from the HUF should be interpreted to mean that the gift was received from the "relatives" therefore the same is not taxable under s. 56(2)(vi). Facts of the case before us are similar as in the assessee’s husband’s case for the very same assessment year, we are inclined to follow the decision of the Coordinate Bench of this Tribunal and direct the A.O. to treat the gift from Biravelli Bhasker (HUF) as a gift under section 56(2) of the I.T. Act. Accordingly, this ground of appeal is treated as allowed in favour of assessee
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