https://www.taxtmi.com/highlights?id=65044 Gift u/s 56(2) (vii) - scope of term relatives u/s 2(41) - Grant of exemption from income tax on gifts received - relatives as defined under Section 2(g) of the Senior Citizens Act - To be treated at par with ‘relative’ under Section 2(41) and Section 56 of the Income Tax Act, 1961 or not - a statutory definition in one context cannot be imported in another Act especially when the two Acts define the same term differently. - HC en-us Tue, 09 Aug 2022 12:41:00 +0530 Tue, 09 Aug 2022 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65044 Gift u/s 56(2) (vii) - scope of term relatives u/s 2(41) - Grant of exemption from income tax on gifts received - relatives as defined under Section 2(g) of the Senior Citizens Act - To be treated at par with ‘relative’ under Section 2(41) and Section 56 of the Income Tax Act, 1961 or not - a statutory definition in one context cannot be imported in another Act especially when the two Acts define the same term differently. - HC Highlights Income Tax Tue, 09 Aug 2022 12:41:00 +0530 https://www.taxtmi.com/highlights?id=65044