Deemed gift by book entries requires inclusion in donor's net wealth unless actual delivery to recipient is proven. Where a monetary gift is effected by entries in the books of account maintained by the donor or by a connected individual, HUF, firm, association or body, the value of that gift is includible in computing the donor's net wealth unless the donor proves to the Assessing Officer that the money was actually delivered to the recipient at the time the entries were made.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed gift by book entries requires inclusion in donor's net wealth unless actual delivery to recipient is proven.
Where a monetary gift is effected by entries in the books of account maintained by the donor or by a connected individual, HUF, firm, association or body, the value of that gift is includible in computing the donor's net wealth unless the donor proves to the Assessing Officer that the money was actually delivered to the recipient at the time the entries were made.
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