Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]

Gift received - Unexplained Cash Credits - ITAT Income Tax Act - TAXSCAN

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the gift received from the mother shall not be termed as unexplained cash credits hence no addition shall be imposed under Section 68 of the Income Tax Act, 1961. During the year under consideration, the assessing officer observed that there was an increase…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here
taxscan-loader