ITAT deleted additions as sum deposited in Bank a/c was gift received from father who sold his agricultural land

INCOME TAX: Where assessee explained that amount deposited in bank account was received as gift from his father who had sold agricultural land, since revenue authorities had not doubted veracity of sale deed brought on record by assessee's father, source of cash deposited in bank was duly explained and, thus, impugned addition made under section 68 was to be deleted

from www.taxmann.com Latest Case Laws https://ift.tt/2RlAXcA