Gift from non-resident brother exempt from taxation: ITAT Mumbai

Abul Wais Abdus Salam Vs ITO (ITAT Mumbai) In the case of Abul Wais Abdus Salam Vs ITO, the Mumbai ITAT examined the taxability of a Rs. 20,00,000 gift received by the appellant from his non-resident brother. The appellant had challenged the addition of this amount to his income, arguing that it was a gift from a relative and thus exempt under section 56(2)(x) of the Income-tax Act, 1961. The initial rectification order by the Central Processing Centre and the subsequent appeal before the National Faceless Appeal Centre had both upheld the addition of the gift to the appellant’s income, alon...