The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that a gift received by an individual from his brother-in-law qualifies as a transfer from a “relative” under Section 56(2)(vii) of the Income Tax Act, 1961, and is therefore not taxable as “income from other sources.” The Bench of George Mathan (Judicial Member) and…
Gift From Brother-in-Law is Exempted U/s 56 Of Income Tax Act: ITAT
Amit Sharma
Amit Sharma is the Content Editor at JurisHour. He has been writing about the Indian legal market. He has covered tax & company litigation stories from the Supreme Court, High Courts and Various Tribunals. Amit graduated from MLSU Law College with B.A.LL.B. and also holds an LL.M. from MLSU, Udaipur, Rajasthan. An Advocate in Taxation, and practised in Tribunals as well as Rajasthan High Court and pursued Masters in Constitutional Law. He started out small with little resources but a big plan to take tax legal education to the remotest locations across India and eventually to the world. His vision is to make tax related legal developments accessible to the masses.
Latest articles
Other Laws
Who Will Lead the Dargah? Supreme Court Says Nominee Has the Final Say
The Supreme Court has upheld the appointment of a Sajjadanashin (spiritual head) of a...
GST
Madras High Court Orders Rs. 241 Crore Pre-Deposit in Rs. 4,500+ Crore GST Dispute Over Classification of Catalysts
The Madras High Court has directed the deposit approximately Rs. 241 crore as a...
GST
Allahabad High Court Stays GST Adjudication Against Hindustan Unilever Limited Over ‘Tin Sheds
The Allahabad High Court has granted interim relief to Hindustan Unilever Limited by staying...
GST
SGST Dept. Lack Jurisdiction Over IGST on Imports: AP HC Quashes Proceedings
The Andhra Pradesh High Court has held that the State GST department cannot initiate...
More like this
Other Laws
Who Will Lead the Dargah? Supreme Court Says Nominee Has the Final Say
The Supreme Court has upheld the appointment of a Sajjadanashin (spiritual head) of a...
GST
Madras High Court Orders Rs. 241 Crore Pre-Deposit in Rs. 4,500+ Crore GST Dispute Over Classification of Catalysts
The Madras High Court has directed the deposit approximately Rs. 241 crore as a...
GST
Allahabad High Court Stays GST Adjudication Against Hindustan Unilever Limited Over ‘Tin Sheds
The Allahabad High Court has granted interim relief to Hindustan Unilever Limited by staying...

