Undisclosed income - Addition of gift received by assessee from ...

Gift from Mother Not Taxable: Court Rules Undisclosed Income Claim Invalid Due to Assumptions and Speculation.

April 15, 2023

Case Laws Income Tax AT

Undisclosed income - Addition of gift received by assessee from his mother - As per the affidavit, Mother is having PAN, but, had not filed the return of income as the income was less than the taxable limit. However, being an old lady, if she has gifted some amount to her son for Europe tour, then, the same cannot be disputed or disregarded on the basis of surmises and conjectures. - AT

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Undisclosed income - Addition of gift received by assessee from ...

Gift from Mother Not Taxable: Court Rules Undisclosed Income Claim Invalid Due to Assumptions and Speculation.

April 15, 2023

Case Laws Income Tax AT

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