Addition made u/s 56 - the word relative includes 'relatives' ...

Income Tax Act Section 56: "Relative" now includes groups like Hindu Undivided Family, allowing gift rights to eligible relatives.

May 2, 2014

Case Laws Income Tax AT

Addition made u/s 56 - the word relative includes 'relatives' and such 'relatives' coming together as a group and constituting themselves as a legal entity, viz. 'HUF', are not disentitled from their original right of giving gifts to any eligible relative either within or outside the ring of HUF - AT

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Addition made u/s 56 - the word relative includes 'relatives' ...

Income Tax Act Section 56: "Relative" now includes groups like Hindu Undivided Family, allowing gift rights to eligible relatives.

May 2, 2014

Case Laws Income Tax AT

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