Gifts in income tax

Not taxable, both transactions are exempt u/s. 56(2)(x) IT act.

There is nothing like this in IT act

Explanation.—For the purposes of this clause, "relative" means—

   (i) spouse of the individual;

  (ii) brother or sister of the individual;

 (iii) brother or sister of the spouse of the individual;

 (iv) brother or sister of either of the parents of the individual;

  (v) any lineal ascendant or descendant of the individual;

 (vi) any lineal ascendant or descendant of the spouse of the individual;

(vii) spouse of the person referred to in clauses (ii) to (vi);