Gift received from HUF is a capital receipt in the hand of member

FCS Deepak Pratap Singh , Last updated: 18 December 2021 Share Follow on Google News

Pankil Garg v. PCIT (2019) 178 ITD 282 (Chd.)(Trib.). ITAT DECISION Income from other sources - HUF - Gift - Amount received as gift from HUF, being its member, is a capital receipt not liable to tax - Revision is held to be not valid. Gifts not chargeable to tax [Sec. 56(2)(vii)] Any su

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About the Author

FCS Deepak Pratap Singh

Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.)

Dear Friends, MyselfFCSDeepak P. Singh ( B.Sc.. LLB, FCS. FIII, CIAFP, CRMP, ID) , A Fellow Member of ICSI, Law Graduate ,Fellow Member of Insurance Institute of India, Certified Independent Director ,Certified Insurance Anti Fraud Professional , Certified Risk Governance Professional ( ICSI-III) and cleared Limited I ... Read more

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