Gift cannot be said ingenuine if identity and relationship with donor established

Brief Facts

1. Arjun C Waney settled in United States, gifted an aggregate of $3 lakhs vide a letter dated 10.1.1984 to one Sh. Ashwani Suri and directed by letter written to the beneficiary Mr. Ashwani Suri to distribute the sum received in different proportions and one of the receiver is present assessee Mr. Ramesh Suri, who has received US Dollors 16000 equivalent to Rs 184860/-as stated in the letter.

2. Ashwani Suri, the original donee complied with the direction

Please become a Premium member. If you are already a Premium member, login here to access the full content.