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Mumbai ITAT Allows Post-Ceremony Marriage Gifts citing real-life practicality

Case Law Details

Case Name
Dhruv Sanjay Gupta Vs JCIT (ITAT Mumbai)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2013-14
Advertisement Dhruv Sanjay Gupta Vs JCIT (ITAT Mumbai) Assessee got married on 08.12.2012 &  had received gift on occasion of his marriage, consisting  of Rs.2 Crores from Shri AKG & Rs 11,35,523/- from Shri SJ.  Assessee claimed that he received the said gifts on the occasion of his marriage. Shri AKG is his first cousin from the paternal grandfather & amount  was received by cheque  dated 08.12.2012 drawn on Royal Bank of Scotland, Chennai branch, India. A memorandum of gift dated 08.12.2012 was executed for the said gift. The cheque for the gift was cleared & credi...
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Author Info

CA Vijayakumar Shetty
Qualification: CA in Practice
Company: Shetty & Co, Chartered Accountants, Mangalore
Location: Mangalore, Karnataka
Articles Published: 5,900

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