https://www.taxtmi.com/highlights?id=82798 The case pertains to the reopening of assessment and addition u/s 56(2)(vii) of the Act regarding the receipt of immovable property as a gift by the petitioner from the brother of the petitioner's father. The assessing officer considered that a nephew is not a relative within the meaning of explanation (e) to the proviso to Section 56(2)(vii), rendering the gift taxable. The High Court held that the plain language of explanation (e) covers a brother or sister of either of the parents as a relative. Since the donor is the brother of the petitioner's father, he is covered under the said clause. The mere non-mention of the word 'nephew' cannot exclude uncles or nephews from the definition of relatives under explanation (e). Consequently, the impugned order and notice were set aside. en-us Tue, 05 Nov 2024 14:19:33 +0530 Tue, 05 Nov 2024 14:19:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=82798 The case pertains to the reopening of assessment and addition u/s 56(2)(vii) of the Act regarding the receipt of immovable property as a gift by the petitioner from the brother of the petitioner's father. The assessing officer considered that a nephew is not a relative within the meaning of explanation (e) to the proviso to Section 56(2)(vii), rendering the gift taxable. The High Court held that the plain language of explanation (e) covers a brother or sister of either of the parents as a relative. Since the donor is the brother of the petitioner's father, he is covered under the said clause. The mere non-mention of the word 'nephew' cannot exclude uncles or nephews from the definition of relatives under explanation (e). Consequently, the impugned order and notice were set aside. Highlights Income Tax Tue, 05 Nov 2024 14:19:33 +0530 https://www.taxtmi.com/highlights?id=82798