Genuineness of Gift from her mother and her husband - whether ...

Case Laws Income Tax

March 23, 2018

Genuineness of Gift from her mother and her husband - whether donors in question had the funds to make a gift to the respondent-assessee for the purpose of admission of her son in a medical college - explanations found satisfactory - no additions - HC

View Source

← Previous Next →

Genuineness of Gift from her mother and her husband - whether ...

Case Laws Income Tax

March 23, 2018

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...

Non-resident Indian donor gifted funds to assessee through cheques from NRE account, proving identity, creditworthiness, and genuineness. Assessing Officer made addition...

Unexplained cash credits u/s. 68 - the donor in question is not in any way related to the assessee. And also there is no corresponding channel in the gift instrument...

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 on account of capital introduction by the partners of the assessee-firm - The source of funds utilized for giving such gifts was explained as the sale proceeds...

Gift from brother - Creditworthiness and genuineness of donor - The assessee could not produce the statement of cash flow to show that the gift was genuine one -...

Unaccounted gifts - creditworthiness of donor and genuineness of gift is not proved because the assessee had no direct relationship with the donor and in the absence of...

Addition u/s 68 - receipt of gift - the primary onus to establish the identity and creditworthiness of the concerned donors as well as the genuineness of the relevant...

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...

Addition of gifts u/s. 68 - genuineness of the gifts - unable to produce the donor - The document produced by the assessee that is bank statement, ITR, Gift deed, bank...

Disallowance of interest u/s. 36(1)(iii) - AO observed that, interest-bearing funds had been diverted/utilized by the assessee for making gifts to his nephews - it can...

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...

Addition u/s.68 - gift - When however, large amounts are stated to have been gifted, that too by a person having no blood relation with the assessee, the question of...

Disallowances of centenary celebration expenses, gift distribution and interest relief to society expenses - The expense incurred on account of relief fund to celebrate...

Addition u/s 68 - it is seen that the this Gift is given from donor's NRE bank account maintained with Axis Bank. It entails particulars of cheque number, date of giving...

Quick Updates: