ITAT directs to restrict Unexplained Portion of cash and Gold Bars received to 50% of as Gift from family in Navjote ceremony of son [Read Order]

By Aparna. M - On January 20, 2024 7:40 pm - 2 mins read

ITAT - cash and Gold Bars - Income Tax Appellate Tribunal - TAXSCAN

The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench directed it to restrict to the extent of 50% of unexplained portion of cash and Gold bars received as gift from family in Navjote ceremony of son. The assessee,Rohinton Homi Sanga after filing the return of income it was observed that The assessee was covered…

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