ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]

ITAT deletes Addition made towards Gift of cash amount deposited -ICICI Bank - taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi bench deleted the addition made towards the gift of cash amount deposited in the ICICI Bank, received from the father-in-law and mother-in-law of the wife. The assessee, Parminder Singh, was engaged in the business of sale and purchase of old mobile phones and the distribution of milk supply…

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