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Addition u/s 69A deleted as receipt of gifts in cash on various occasions is common in India
Case Law Details
- Case Name
- Jasmine Anand Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Jasmine Anand Vs ACIT (ITAT Delhi)
ITAT Delhi held that assessee belonging to upper higher strata of society receipt of gifts in the shape of cash “shaguns” on various occasions such as marriages, birthdays, anniversaries, birth of a child, auspicious festivals and other such occasions is common. Accordingly, addition towards unexplained money u/s 69A deleted.
Facts- A survey action u/s 133A of the Income Tax Act, 1961 was carried out on “U&I Vaults Pvt. Ltd.” on 16.11.2017. The locker which is in the name of the assessee and Jaswinder Kaur Anand has been searched ...
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