Gift from Brother-in-Law Not Taxable despite absence of deed: ITAT Kolkata

Advertisement Deb Prasanna Choudhury Vs ADIT/DCIT (ITAT Kolkata) No Requirement of a Gift Deed for Gifts Received from Relatives to Claim Exemption Under Section 56 of the Income Tax Act The Income Tax Appellate Tribunal (ITAT) Kolkata Bench delivered its order on 4 November 2025 in an appeal filed by an individual taxpayer against the order of the Commissioner of Income Tax (Appeals)-22, Kolkata, dated 13 May 2024, for the Assessment Year 2012–13. The appeal challenged the addition of ₹80 lakh as taxable income under Section 56(2)(vii) of the Income Tax Act, 1961, arising from a gift r...