Case Law Details
Case Name : ITO Vs Varun Manchanda (ITAT Delhi)
Related Assessment Year : 2021-22
Courts :
All ITAT ITAT Delhi
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ITO Vs Varun Manchanda (ITAT Delhi)
ITAT Delhi – Cash Gifts Taxable Without Donor Details; Agricultural Land Advance Held Non-Taxable & Credit Card Payments Explained
In ITO vs Varun Manchanda (AY 2021-22), the ITAT Delhi partly allowed the Revenue’s appeal and decided three key issues relating to Sec 56(2)(x), Sec 69C and agricultural land exemption.
The Tribunal held that cash gifts of ₹10.43 lakh claimed
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