Addition u/s 68 - Gift received from the brother treated as ...

Gift from Brother Deemed Undisclosed Income Lacks Evidence; Authorities Fail to Prove Allegations Under Income Tax Act.

December 14, 2023

Case Laws Income Tax AT

Addition u/s 68 - Gift received from the brother treated as undisclosed income - Admittedly, the cross transaction between the brothers can create a suspicious but that doubt cannot be treated as gospel truth. As such, it is the onus upon the revenue to prove the allegation framed by it against the assessee. - Additions deleted - AT

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Addition u/s 68 - Gift received from the brother treated as ...

Gift from Brother Deemed Undisclosed Income Lacks Evidence; Authorities Fail to Prove Allegations Under Income Tax Act.

December 14, 2023

Case Laws Income Tax AT

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