Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
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 assessee in the instant case has provided the identify and creditworthiness of the donor and the genuineness of the transaction, therefore, the addition made by the Assessing Officer and sustained by the learned CIT (A) received as gift from her mother-in-law, in our opinion, cannot be sustained. - AT
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 assessee in the instant case has provided the identify and creditworthiness of the donor and the genuineness of the transaction, therefore, the addition made by the Assessing Officer and sustained by the learned CIT (A) received as gift from her mother-in-law, in our opinion, cannot be sustained. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
