Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2015 Year 2015 This

Receipt of gift by a nonresident Indian - assessee cannot be ...

Income Tax

June 5, 2015

Receipt of gift by a nonresident Indian - assessee cannot be asked to prove the source of source. Moreover, Gift Tax Act nowhere provides that a gift by somebody who is not creditworthy is not a gift. - HC

View Source

 


 

You may also like:

  1. Addition u/s 68 – Amount claimed to be exempted as gift received from non-resident Indians - genuineness of the transaction is not established by the assessee - HC

  2. Addition u/s 68 - proof of source of the donor - Gift from his brother (relative) - The assessee had not proved his brother's source of income to the Department - demand...

  3. 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

  4. 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

  5. Gift of immovable property - assessee's brothers and mother have gifted their 1/8th undivided share - very heavy burden lies on the department to prove that it is not...

  6. Nature of land sold - sale of agricultural land or not - it is nowhere necessary for an assessee to prove carrying out actual agricultural activity of the land

  7. Addition on account of capital introduction by the partners of the assessee-firm - The source of funds utilized for giving such gifts was explained as the sale proceeds...

  8. Revision u/s 263 - provisions of Section 68 as amended given retrospective operation - Asking for source of source can be relevant inquiry - Demands confirmed - HC

  9. Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of...

  10. Undisclosed income of the assessee - Unexplained NRI gifts - onus to prove - Had the appellant given a convincing and believable explanation / reply to the respondent,...

 

Quick Updates:Latest Updates