Cash Gifts Taxable Without Donor Details: ITAT Delhi

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 to be received from relatives on the occasion of a marriage anniversary were rightly taxable because the assessee failed to provide basic details such as names, relationship and b...