https://www.taxtmi.com/caselaws?id=395962 The ITAT quashed the notice issued under section 148 for reopening the assessment as the AO had already considered the gifts from HUF in the original assessment without providing valid reasons for reopening. The ITAT dismissed the revenue's appeal, partly allowing the assessee's cross objections regarding the interpretation of the term 'relative' under section 56(2)(vi) of the Income Tax Act. en-us Fri, 05 Jun 2020 00:00:00 +0530 Tue, 16 Jun 2020 11:44:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395962 The ITAT quashed the notice issued under section 148 for reopening the assessment as the AO had already considered the gifts from HUF in the original assessment without providing valid reasons for reopening. The ITAT dismissed the revenue's appeal, partly allowing the assessee's cross objections regarding the interpretation of the term 'relative' under section 56(2)(vi) of the Income Tax Act. Case-Laws Income Tax Fri, 05 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395962