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₹85.30 lakh cash gifts from relatives: ITAT says donors’ low income alone isn’t enough to reject genuine gifts

28 Sept 2026 · 28 Sept 2026Source: LiveMint — Money

The Chennai ITAT deleted an ₹85.30 lakh tax addition on cash gifts after the taxpayer produced gift deeds, ITRs and financial statements, while all five donors confirmed the gifts. The tribunal said the initial burden under Section 68 was discharged.

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This digest is published with acknowledgment to LiveMint — Money. For the complete analysis, headnotes, and citations, please refer to the source.

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