The Chennai ITAT deleted an ₹85.30 lakh tax addition on cash gifts after the taxpayer produced gift deeds, ITRs and financial statements, while all five donors confirmed the gifts. The tribunal said the initial burden under Section 68 was discharged.
The Chennai ITAT deleted an ₹85.30 lakh tax addition on cash gifts after the taxpayer produced gift deeds, ITRs and financial statements, while all five donors confirmed the gifts. The tribunal said the initial burden under Section 68 was discharged. by Soban News (international And National News)
