https://www.taxtmi.com/caselaws?id=210096 The tribunal allowed the assessee's appeal and dismissed the revenue's appeal, ruling that the gift received from the HUF is not taxable under Section 56(2)(vi) and is exempt under Section 10(2) of the Income Tax Act, 1961. Consequently, the charging of interest under Sections 234B and 234C and the imposition of penalty under Section 271(1)(c) were deemed unsustainable. en-us Tue, 17 May 2011 00:00:00 +0530 Wed, 26 Jun 2013 13:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210096 The tribunal allowed the assessee's appeal and dismissed the revenue's appeal, ruling that the gift received from the HUF is not taxable under Section 56(2)(vi) and is exempt under Section 10(2) of the Income Tax Act, 1961. Consequently, the charging of interest under Sections 234B and 234C and the imposition of penalty under Section 271(1)(c) were deemed unsustainable. Case-Laws Income Tax Tue, 17 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210096