Income Tax Act Sections 68, 2(22)(e): Loan Converted to Gift Not Subject to Additional Taxation, Court Rules.

Income Tax Act Sections 68, 2(22)(e): Loan Converted to Gift Not Subject to Additional Taxation, Court Rules. https://www.taxtmi.com/highlights?id=17330 Merit of additions u/s 68 and Section 2(22)(e) - The addition made is on account of gift which is nothing but loan taken by the assessee which was converted into gift during the year - No addition - AT en-us Wed, 19 Feb 2014 14:16:54 +0530 Wed, 19 Feb 2014 14:16:54 +0530 TaxTMI RSS Generator Income Tax Act Sections 68, 2(22)(e): Loan Converted to Gift Not Subject to Additional Taxation, Court Rules. https://www.taxtmi.com/highlights?id=17330 Merit of additions u/s 68 and Section 2(22)(e) - The addition made is on account of gift which is nothing but loan taken by the assessee which was converted into gift during the year - No addition - AT Highlights Income Tax Wed, 19 Feb 2014 14:16:54 +0530 https://www.taxtmi.com/highlights?id=17330