Educational approval requires mandatory State registration, but incidental surplus and trustee-owned land do not prove private benefit or profit motiv...
Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
Fraudulent import documents suspend limitation protection, while redemption of confiscated goods requires duty and interest despite bona fide purchase...
ODR arbitration participation remains mandatory after failed conciliation, while jurisdictional and maintainability objections stay available before t...
Transparency in technical bid evaluation requires disclosed standards and recorded reasons; opaque scoring invalidated tender awards and required fres...
Automated export obligation extensions remove separate regional applications after committee approval for Advance Authorisation and EPCG authorisation...
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ITAT allowed the appeal and deleted additions made under section 56(2)(vii) regarding gifts received after marriage. The assessee received monetary gifts through cheques given during marriage celebrations, but amounts were credited to bank accounts 10-15 days later due to clearing processes. The AO treated these as taxable gifts since credit occurred post-marriage. ITAT held that the expression "on the occasion of marriage" in proviso to section 56(2)(vii) cannot be restrictively interpreted. The tribunal emphasized that when gifts are associated with marriage events, the causal relationship between gift and marriage is determinative, not the timing of account credit. ITAT found the revenue authorities' observations were conjectural without cogent material to disprove documentary evidence. The microscopic interpretation requiring same-day receipt and credit was deemed unrealistic given practical banking procedures.
ITAT allowed the appeal and deleted additions made under section 56(2)(vii) regarding gifts received after marriage. The assessee received monetary gifts through cheques given during marriage celebrations, but amounts were credited to bank accounts 10-15 days later due to clearing processes. The AO treated these as taxable gifts since credit occurred post-marriage. ITAT held that the expression "on the occasion of marriage" in proviso to section 56(2)(vii) cannot be restrictively interpreted. The tribunal emphasized that when gifts are associated with marriage events, the causal relationship between gift and marriage is determinative, not the timing of account credit. ITAT found the revenue authorities' observations were conjectural without cogent material to disprove documentary evidence. The microscopic interpretation requiring same-day receipt and credit was deemed unrealistic given practical banking procedures.
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