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Cash Gifts Taxable Without Donor Details: ITAT Delhi
Case Law Details
- Case Name
- ITO Vs Varun Manchanda (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Delhi
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ITO Vs Varun Manchanda (ITAT Delhi)
ITAT Delhi – Cash Gifts Taxable Without Donor Details; Agricultural Land Advance Held Non-Taxable & Credit Card Payments Explained
In ITO vs Varun Manchanda (AY 2021-22), the ITAT Delhi partly allowed the Revenue’s appeal and decided three key issues relating to Sec 56(2)(x), Sec 69C and agricultural land exemption.
The Tribunal held that cash gifts of ₹10.43 lakh claimed to be received from relatives on the occasion of a marriage anniversary were rightly taxable because the assessee failed to provide basic details such as names, r...
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