ITAT Allows Gifts from Sisters; Tax Addition Cannot Be Based on Donor’s Non-Scrutiny

Sharad Maheshwar Vs ITO (ITAT Agra) The Income Tax Appellate Tribunal (ITAT), Agra bench, in the case of Sharad Maheshwar Vs Income Tax Officer (ITO), allowed the appeal of the assessee, Sharad Maheshwar, and deleted the addition of ₹17,19,000 (₹10,94,000 + ₹6,25,000) made by the Assessing Officer (AO) under Section 68 of the Income-tax Act, 1961. The dispute centred on the genuineness and creditworthiness of the donors of gifts received by the assessee from his two sisters during the Assessment Year (A.Y.) 2016-17. Background and Additions Sharad Maheshwar filed his return of income fo...