Case Law Details
Case Name : Prem Kumar Chowdhary Vs CIT (Income Tax Appellate Tribunal “B” Bench, Kolkata)
Appeal Number : ITA No. 1103/Kol/2012
Date of Judgement/Order : 16/06/2015
Related Assessment Year : 2002-03
Courts :
All ITAT ITAT Kolkata
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
Brief Facts of the Case and Question of Law
Brief Facts:
The Appellant-assessee’s children (one minor son and three minor daughters) have received gifts of Rs. 5 Lakhs each. The Assessing officer has treated the same as not genuine and added back in the computation of income from concealed sources under the head “Other Sources”.
The gifts were received by children from four close friends of the assessee. The donors had received back share application money from various Private Limited companies. The donors had made multiple investments in share application money in cash in small quantities not exceeding Rs. 20000/-
Question of Law:
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.