Man deposits Rs 85.3 lakh received as cash gifts from wife, relatives; income tax calls it unexplained and sends notice, but ITAT Chennai accepts gift deeds and gives relief
In this case the man who received the cash gifts formalised the transactions through gift deeds and deposited the money into his bank account. (Image for representative purpose only) You get a lot of gifts in the form of cash and you deposit the amount in your bank account. But, what if the Income Tax […]
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