Case Law Details
Case Name : DCIT Vs Shri Arvind N. Nopany (ITAT Ahmedabad)
Related Assessment Year : 2008-09 & 2009-10
Courts :
All ITAT ITAT Ahmedabad
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
DCIT Vs Shri Arvind N. Nopany (ITAT Ahmedabad)
Conclusion :- Once the identity, creditworthiness and genuineness of the transaction has been proved, gift received from the brother-in-law is exempted in terms of provisions of section 56.
Facts :-
Assessee received gift of an amount of INR 16 Crore from his brother-in-law.
AO asked the assessee to provide evidence with regard to the identity, creditworthiness and ge
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Question 1
case: gift of my inherited land/plot(from my late mother) to my wife’s brother’s daughter for her marriage-is it exempt from tax? please clarify.
question 2
case: gift of my inherited land/plot(from my late mother) to my wife’s brother-there is no occassion of marriage-is it exempt from tax? please clarify
Is there any provisions to recevie a gift as cash from brother in law