Addition on gifts received u/s 69 from mother-in-law and from ...

Case Laws Income Tax

June 29, 2015

Addition on gifts received u/s 69 from mother-in-law and from father on the ground that there was no drawing during the five days prior to the date of gift and mere cash withdrawal by the donor long back i.e. 120 days - Once genuineness and creditworthiness of the transactions proved, no addition can be made - AT

View Source

← Previous Next →

Addition on gifts received u/s 69 from mother-in-law and from ...

Case Laws Income Tax

June 29, 2015

You may also like:

Addition u/s 68 - gift received from mother-in-law - Once the gift is treated as genuine, it is immaterial what the assessee does with that money thereafter. - Since the...

Additions on account of cash deposited in bank account - receipts of gifts - since the gifts in the instant case are received from parents, brother and spouse,...

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...

Addition regarding gift received from father - Father is not filing ITR having agriculture income - merely because a person, giving gift to his son, is not filing return...

Addition of gift u/s 56(2)(vii) - gift been received by the assessee directly from the uncle - The only reason to treat the same as the income of the assessee is that...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Unexplained investment u/s 69 - Amount advanced by M/s. KSR Constructions to the assessee has to be construed as the amount given by M/s. KSR Constructions on behalf of...

Distinction between Section 69 and Section 56(2) regarding unexplained investment and gift. Section 69 requires the Assessing Officer to establish that the assessee made...

Addition u/s 69 - CIT confirmed the additions by Changing the section to section 69C - Addition made by the AO u/s 69 of the Act cannot be converted into Sec. 69C of the...

Addition in view of the Provisions of section 50C on the Gift of Plots - Transfer of property by a Company as a gift - AO concluded how the gift by one company to other...

Undisclosed income - Addition of gift received by assessee from his mother - As per the affidavit, Mother is having PAN, but, had not filed the return of income as the...

Addition on account of diamond set received as gift by the appellant - The CIT(A) accepted the appellant's submission that the diamond set was indeed gifted by his late...

Undisclosed income U/s 69 - Joint bank account - when it is claimed that the assessee (student) could not possibly have any source of income, the addition on his hand is...

Recovery of Central Excise dues - whether the flats belonging to the appellant which she purchased under Registered Sale deeds out of monies received as gifts from her...

Quick Updates: