https://www.taxtmi.com/caselaws?id=262204 The Tribunal ruled in favor of the appellant on both issues. It held that HUF can be considered a 'relative' for exemption under section 56(2) and directed the Assessing Officer to delete the addition of Rs. 90,000 based on the firm's ledger entries, allowing the appeal for statistical purposes. en-us Wed, 17 Jun 2015 00:00:00 +0530 Wed, 05 Aug 2015 06:30:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262204 The Tribunal ruled in favor of the appellant on both issues. It held that HUF can be considered a 'relative' for exemption under section 56(2) and directed the Assessing Officer to delete the addition of Rs. 90,000 based on the firm's ledger entries, allowing the appeal for statistical purposes. Case-Laws Income Tax Wed, 17 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262204