ITAT Allows Gifts from Sisters; Tax Addition Cannot Be Based on Donor’s Non-Scrutiny

The Income Tax Appellate Tribunal (ITAT), Agra bench, in the case of Sharad Maheshwar Vs Income Tax Officer (ITO), allowed the appeal of the assessee, Sharad Maheshwar, and deleted the addition of ₹17,19,000 (₹10,94,000 + ₹6,25,000) made by the Assessing Officer (AO) under Section 68 of the Income-tax Act, 1961. The dispute centred on the genuin

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