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2018 (5) TMI 938 - AT - Income TaxAddition u/s 68 - gift in question received from HUF comprising of the three family members only - Held that:- Legislature itself has accepted an HUF to be a donee in clause (ii) of the “relatives” definition. We apply necessary implication principle to conclude in these facts that the legislative intent is very clear that an HUF is not to be taken as a donor in case of an individual recipient. Assessee’s former plea of having received a valid gift from his HUF is therefore declined. Learned counsel at this stage refers to assesse’s alternative plea that the CIT(A) has not adjudicated the latter ground that the amount in question is exempt u/s.10(2) of the Act. We find no merit in the instant alternative plea as well since a gift sum which is not allowable under the relevant specific clause cannot be accepted to be an exempt income u/s.10(2) of the Act. We thus treat instant latter plea to be mainly technical in nature devoid of merit.
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