Tax Implications of Cash Gifts in HUF Accounts: Examining Sections 56(2)(vii) and 64(2) of the Income Tax Act.

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....Cash gifts received in cheque from relatives and blended with the HUF account - the issue raised by the appellant requires an in-depth analysis of both the provisions, viz., Section 56(2)(vii) and Section 64(2) of the Income Tax Act - HC....