Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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ITAT held that where immovable property is gifted by a spouse to the other without adequate consideration, s.64(1)(iv) applies and income arising on subsequent transfer (including capital gains) is taxable in the hands of the transferor spouse, not the recipient. The tribunal distinguished "adequate consideration" from "good consideration" (love and affection) and confirmed that absence of consideration triggers attribution of income to the donor. Consequently, the capital gain on sale of the gifted agricultural land is chargeable to the husband (donor) and not to the wife (recipient); the appeal in favour of the assessee succeeds.
ITAT held that where immovable property is gifted by a spouse to the other without adequate consideration, s.64(1)(iv) applies and income arising on subsequent transfer (including capital gains) is taxable in the hands of the transferor spouse, not the recipient. The tribunal distinguished "adequate consideration" from "good consideration" (love and affection) and confirmed that absence of consideration triggers attribution of income to the donor. Consequently, the capital gain on sale of the gifted agricultural land is chargeable to the husband (donor) and not to the wife (recipient); the appeal in favour of the assessee succeeds.
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