ITO v. Inder Jaggi (2024) 231 TTJ 768 / 38 NYPTTJ 1103 (Raipur)(Trib)

S. 68 : Cash credits-Value of property received as gift from father-Accounting entries-Addition cannot be made.

 

Held that the  fair market value of the property received as gift by the assessee from his father as recorded in the books of accounts by the assessee cannot be brought to tax under S.  68. Order of CIT(A) is affirmed. (AY.2017-18)

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