Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Addition u/s 56(2)(v) - whether gift cannot be revoked after ...

Case Laws     Income Tax

May 12, 2016

Addition u/s 56(2)(v) - whether gift cannot be revoked after acceptance? - It was a temporary advancement of the money by the transferor to the assessee and the amount was repaid when asked for, as per the transfer document - No addition - AT

View Source

 


 

You may also like:

  1. Section 69A applies to unexplained money, but the assessee provided valid documentation proving the remittance was earned outside India as part of employment in UAE and...

  2. Addition u/s 56(2)(vii)(b) - valuation of land purchased by assessee - deemed gift under section 56(2)(vii)(b)(ii) - Assessee submitted that, actual deed could not be...

  3. Addition as gift from assessee HUF which was exempted u/s 56(2)(VII) - The amount spent may be more than that the member may have gotten on the partition of the 'HUF'....

  4. Addition as income from other sources - Stamp value in excess of consideration price - gift of flat to a grandson - Addition made against the clubbing of income u/s...

  5. Addition u/s 68/56(2)(v) - Donors very grim financial background does not justify gift of such a large sum, creditworthiness/financial capacity of donors not proved....

  6. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

  7. Gift u/s 56(2) (vii) - scope of term relatives u/s 2(41) - Grant of exemption from income tax on gifts received - relatives as defined under Section 2(g) of the Senior...

  8. Revision u/s 263 by CIT- Taxability of shares received by way of Gift - The order of ld AO is not erroneous as Gift of shares of the Wockhardt Limited are not chargeable...

  9. 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...

  10. Addition u/s 50C r.w.s. 56(2)(vii) (b) - the buyer of the property - The Tribunal (ITAT) ruled that since the assesses were buyers, Section 50C did not apply, and...

  11. Addition u/s 56(2)(viib) - shares being issued at excessive rate - When shares are issued at a premium by a subsidiary to its holding company, based on a recognized...

  12. Addition u/s. 56(2)(viib) in respect of share premium - The prime object of insertion of Sec. 56(2)(viib) was to tax excessive share premium received unjustifiably by...

  13. Addition u/s.56(2)(vii)(c) - income from transaction of shares - there is not even a whisper about money laundering - This object behind introduction of section...

  14. 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...

  15. Receipt of Gift from HUF - income from other sources - whether HUF comes under the term ‘group of relatives’ defined u/s 56(2)? - Held Yes - Receipt of Gift from HUF -...

 

Quick Updates:Latest Updates