Step-son falls within the ambit of relative for Gift – Section 56(2)

Samta Kamal Drolia Vs ITO (ITAT Ahmedabad) Assessee has received Rs. 2.20 Lakh from His Step Father and contended that he received the amounts in gift. The ld.AR has rejected the explanation of the assessee on the ground that the assessee is step-son of Donor, therefore, their relationship does not fall within the ambit of relationship explained in Explanation appended to Section 56(2). Appeal to the CIT(A) did not bring any relief to the assessee. Assessee submitted that the expression “relative” has been explained in the Explanation appended to Section 56(2) of the Income Tax Act. As per...