No addition for Cash Gift from Siblings for Medical Emergencies

Ritu Jain Vs ITO (ITAT Delhi) In the instant case the A.O. made an addition of Rs.3,55,000/-by treating gifted amount of Rs.1,80,000/- and Rs.1,75,000/- from Mrs. Kamlesh Devi and Sh. Rakesh Jain respectively as unexplained money under section 69A of the I.T. Act, 1961 without taking into consideration of the Government Instruction No.3/2017 dated 21.02.2017 and press release dated 18.11.2016 (supra) wherein the present exempt limit for income tax is Rs.2.5 lakhs. In my view, the assessee has discharged her initial onus by proving the identity, creditworthiness and genuineness of the transacti...