https://www.taxtmi.com/caselaws?id=335103 The Tribunal allowed the appeal, directing the AO to delete the addition of Rs. 82,39,653. The IMD bonds received as gifts were held not to fall within the purview of "any sum of money" under Section 56(2)(v), and the interest on the IMD bonds was deemed exempt under Section 10(15)(iid)(c) of the Income Tax Act, 1961. The Tribunal found the gifts genuine, with established donor creditworthiness, similar to a prior case, and concluded the addition by the AO was unjustified. en-us Thu, 22 Sep 2016 00:00:00 +0530 Sat, 26 Nov 2016 10:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335103 The Tribunal allowed the appeal, directing the AO to delete the addition of Rs. 82,39,653. The IMD bonds received as gifts were held not to fall within the purview of "any sum of money" under Section 56(2)(v), and the interest on the IMD bonds was deemed exempt under Section 10(15)(iid)(c) of the Income Tax Act, 1961. The Tribunal found the gifts genuine, with established donor creditworthiness, similar to a prior case, and concluded the addition by the AO was unjustified. Case-Laws Income Tax Thu, 22 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335103