ITAT Deletes Addition on Account of Cash Gifts Received from Mother through Gift Deed in Absence of Contrary Material

ITAT- Deletes Addition on Account of Cash Gifts Received from Mother - Gift Deed in Absence of Contrary Material - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition on account of cash gifts received from mother through gift deed as no contrary material was found. The Assessing Officer made an addition on account of the cash deposits over a period of 14 days from 18.04.2016 to 18.11.2016 upon the assessee…

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