Amount given by HUF to Member, which is not in the Nature of Gift not Taxable: ITAT [Read Order]

Amount - HUF - Gift - Taxable - ITAT - taxscan

The ITAT, Ahmedabad bench has held that the amount received by the assessee from its HUF which is not in the nature of gift or received without consideration shall not be taxable undersection 56(2)(vii) of the Income Tax Act, 1961. The Tribunal bench comprising of Ms. Annapurna Gupta, Accountant Member and Shri TR Senthil Kumar,…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here
taxscan-loader