Addition of sum received as "Gift" by the assessee from his ...

Court Upholds Legitimacy of Father's Gift to Son, Overturns Addition Due to Procedural Delay Challenge.

November 2, 2022

Case Laws Income Tax AT

Addition of sum received as "Gift" by the assessee from his "father" - The donor is about 85 years old and the amount has been gifted to his own son through a gift deed proves the genuineness of the transactions. The addition has been made solely on the basis of failure of the assessee to produce his father (donor) who is 85 years old, staying at Hong Kong before the authorities within a span of 13 hours. - Additions deleted - AT

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Addition of sum received as "Gift" by the assessee from his ...

Court Upholds Legitimacy of Father's Gift to Son, Overturns Addition Due to Procedural Delay Challenge.

November 2, 2022

Case Laws Income Tax AT

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