https://www.taxtmi.com/highlights?id=56376 Addition of unsecured loan as a gift - gift from unrelated persons treated as assessee’s income u/s.56(vi) - simply because husband has treated his loan as a gift to his wife, cannot be the reason for drawing a similar conclusion for unrelated parties that the other persons will also convert their loan to gift, especially when in the books of account amount has been reflected as loan. - AT en-us Tue, 19 Jan 2021 10:11:50 +0530 Tue, 19 Jan 2021 10:11:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56376 Addition of unsecured loan as a gift - gift from unrelated persons treated as assessee’s income u/s.56(vi) - simply because husband has treated his loan as a gift to his wife, cannot be the reason for drawing a similar conclusion for unrelated parties that the other persons will also convert their loan to gift, especially when in the books of account amount has been reflected as loan. - AT Highlights Income Tax Tue, 19 Jan 2021 10:11:50 +0530 https://www.taxtmi.com/highlights?id=56376