https://www.taxtmi.com/caselaws?id=199307 The Tribunal partially allowed the appeal by remanding the disallowance of a bad debt of Rs. 1,00,000 to the AO for reconsideration under Section 37. The gift of Rs. 44,55,000 from Dinesh J. Shah HUF was deemed non-taxable, following precedents that gifts from HUF members are not taxable. However, the gift of Rs. 14,40,000 from Pankaj J. Shah HUF was upheld as taxable income since the recipient was not a member of that HUF. en-us Wed, 08 Mar 2017 00:00:00 +0530 Sun, 25 Feb 2018 21:52:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199307 The Tribunal partially allowed the appeal by remanding the disallowance of a bad debt of Rs. 1,00,000 to the AO for reconsideration under Section 37. The gift of Rs. 44,55,000 from Dinesh J. Shah HUF was deemed non-taxable, following precedents that gifts from HUF members are not taxable. However, the gift of Rs. 14,40,000 from Pankaj J. Shah HUF was upheld as taxable income since the recipient was not a member of that HUF. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199307