Addition u/s.68 - unexplained gifts received - When the ...

Section 68 Inapplicable: No Money Received, Gift from Brother Exempt from Tax, Revenue's Case Unsupported.

November 22, 2022

Case Laws Income Tax AT

Addition u/s.68 - unexplained gifts received - When the provisions of Section 68 of the Act per se could not be made applicable, as no receipt of money was available during the year under consideration and in view of the fact that gift has been received only from assessee‟s own blood brother (which would be exempt from tax), the decision relied upon by the Revenue does not come to the rescue of the Revenue. - AT

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Addition u/s.68 - unexplained gifts received - When the ...

Section 68 Inapplicable: No Money Received, Gift from Brother Exempt from Tax, Revenue's Case Unsupported.

November 22, 2022

Case Laws Income Tax AT

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