No Addition on Unexplained Income received as Gift from Family Members: ITAT directs Re-Adjudication

No Addition on Unexplained Income - received as Gift from Family Members - ITAT directs Re - Adjudication - TAXSCAN

The Indore bench of Income Tax Appellate Tribunal (ITAT) held that no addition can be made on unexplained income which was received as gift from the family members for personal use. Hemant Pandya, the appellant assessee was an individual who filed his return of income of  declaring the total income  earned from salary, profession and…

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