Genuity of gift - One cannot be oblivious to the fact that such ...

Suspicion of foreign gifts isn't enough; concrete proof is needed to classify them as taxable income under relevant provisions.

February 22, 2016

Case Laws     Income Tax     HC

Genuity of gift - One cannot be oblivious to the fact that such a large gift received from a foreign country is bound to raise suspicion but can not disregard the fact that suspicion and doubt cannot replace proof or translate into reasons, much less reasons for invoking a deeming provision to hold that gifts represent the income of the assessee, particularly in the absence of relevant facts. - HC

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