Assessee has received gift from his grandmother in contemplation of her death, assessee showed this in his statements but it is not acceptable to asessing Officer on groud that the gift/loan could not be confirm and asks for source of income of the donor, donor was not filing her IT returns nor was having PAN.
Kinldy help along with relevant case if any.
Hello Ankush,
This is a harsh treatment from Ao , as gift specifically includes property recived on will/inheritance and in comtemplation of death of payee.
You can show him the gift section and also you say that the property recived from your grandmother was too recived by her in gift
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
CAclubindia
