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Income Tax - Highlights / Catch Notes

Home Highlights August 2014 Year 2014 This

Foreign gifts received - NRI gift could not be accepted as ...

Income Tax

August 23, 2014

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

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  8. Capital gain - transfer of capital asset u/s 2(47) - gift of property by the assessee to his sister out of natural love and affection - Clause (iii) of section 47 of the...

  9. Unaccounted gifts - creditworthiness of donor and genuineness of gift is not proved because the assessee had no direct relationship with the donor and in the absence of...

  10. Genuineness of foreign gifts – there being neither any relationship nor there being any circumstance to show natural love and affection of the donor for the donee nor...

 

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