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Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Genuineness of gifts received from different sources - All the ...


Court Confirms Gifts from Various Sources Genuine; Only USA-Based Donor Not Assessed for Tax.

October 10, 2013

Case Laws     Income Tax     HC

Genuineness of gifts received from different sources - All the donors were assessed to tax except one who was based at USA - Identity of the donors so also creditworthiness and genuineness of the transaction having been established, gifts were not bogus - HC

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