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Income Tax - Highlights / Catch Notes

Home Highlights December 2018 Year 2018 This

Addition u/s 68 - the theory of gift was not established by the ...


Gift Claim Denied u/s 68: Assessee Fails to Prove Validity and Source of NRO Account Transfer.

December 31, 2018

Case Laws     Income Tax     HC

Addition u/s 68 - the theory of gift was not established by the assessee. The so called transfer through an NRO account was also self-serving because, the amount was transferred through telegraphic transfer and the source of transfer was not established as to how it was relatable to the donor

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