A gift by a corporation to another corporation is a strange ...

Case Laws Income Tax

August 17, 2012

A gift by a corporation to another corporation is a strange transaction. To postulate that a corporation can give away its assets free to another even orally can only be aiding dubious attempts at avoidance of tax payable under the Act. - AAR

View Source

← Previous Next →

A gift by a corporation to another corporation is a strange ...

Case Laws Income Tax

August 17, 2012

You may also like:

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 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...

Addition towards gift - Sale of land - the transactions of gift of shares and transactions relating to sale of land - transfer of land arose during Asst. Year 2009-10...

Unexplained gifts – Donee denied to make gifts – transaction is not genuine but colorable – money is routed indirectly from the firm to the assessee's account under...

Shares received by the appellant as gift - The chart reproduced in the Assessment Order clearly shows that it is not a gift but a family arrangement and these kind of...

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 u/s 68 - unexplained gifts received from family members - The Appellate Tribunal found that the assessee had provided sufficient evidence to establish the...

Unexplained gifts - Donee denied to make gifts - burden to prove - The High Court has held that, gifts are not genuine and Tribunal has deleted the addition merely only...

Validity of Tribunal’s order - Genuineness of gift – Rarely one finds a poor man giving gifts to a rich and powerful, out of natural love and affection - HC

Penalty u/s 271(1)(c) - credit worthiness and genuineness of the transaction - Gifts by family friends – the explanation given by the assessee is totally false -...

Interest income of the appellant-Corporation - income from other sources u/s 56 or Business income u/s 28 - The business activity of the appellant-Corporation is really...

Inputs or not - Gift items - The Circular makes it abundantly clear that these items would be called gifts. Hence in this case, since the persons to whom the...

Avoidable transactions - undervalued or preferential transactions - gifts made to related party - It is concluded that the impugned transactions as alleged by the...

Capital gain - transfer of capital asset u/s 2(47) - gift of property by the assessee to his sister out of natural love and affection - Clause (iii) of section 47 of the...

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...

Quick Updates: