Tax Court Rules Gifts Valid Without Money Laundering Evidence if Donor's Identity, Genuineness, and Capacity Proven.

Tax Court Rules Gifts Valid Without Money Laundering Evidence if Donor's Identity, Genuineness, and Capacity Proven. https://www.taxtmi.com/highlights?id=32205 In the absence of anything to show that the transaction was by way of money laundering, additions could not be made towards gifts when the assessee has discharged his burden by proving the identity, genuineness and capacity of the donor. - AT en-us Fri, 25 Nov 2016 09:45:24 +0530 Fri, 25 Nov 2016 09:45:24 +0530 TaxTMI RSS Generator Tax Court Rules Gifts Valid Without Money Laundering Evidence if Donor's Identity, Genuineness, and Capacity Proven. https://www.taxtmi.com/highlights?id=32205 In the absence of anything to show that the transaction was by way of money laundering, additions could not be made towards gifts when the assessee has discharged his burden by proving the identity, genuineness and capacity of the donor. - AT Highlights Income Tax Fri, 25 Nov 2016 09:45:24 +0530 https://www.taxtmi.com/highlights?id=32205