Sunday, April 26, 2015

Jewellery received on marriage couldn’t be held as unexplained investment

Jewellery received from father/father-in-law on occasion of marriage couldn’t be held as unexplained investment

Where assessee had explained source of jewellery in her possession being gifts received on occassion of her marriage from her father and father-in-law and Assessing Officer did not dispute same, invocation of section 69 was not justified [2015] 56 taxmann.com 293 (Bombay) HIGH COURT OF BOMBAY Mrs. Komal Wazir v. Deputy Commissioner of Income-tax

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