Monday, 28 September 2026Updated 15m ago
← Top stories
Legal● Neutral for Indian equities

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

1 source · first seen 09:02 28 Sept · updated 09:02 28 Sept

The brief

Written from 1 report · check the source before you trade
  • Chennai ITAT deleted a tax addition of ₹85.30 lakh on cash gifts
  • Taxpayer produced gift deeds, donors’ ITRs and financial statements
  • The ruling may guide Indian taxpayers facing scrutiny of family gifts

Tags on this story

Pick a tag to see all its stories
Income tax9 todayTaxes22 today

Linked by the tag Income tax

34 stories this week
  1. 27 SeptBuying property from an NRI gets easier from October 1: Check key rule changes for residents and HUFsPolicy · 2 sources · From October 1, resident individuals and HUFs buying property from non-residents can use their existing PAN for TDS compliance
  2. 24 SeptPAN-based TDS reporting eases compliance for NRI property purchases from October 1Policy · 2 sources · Resident individuals and HUFs no longer need a TAN solely for TDS compliance
  3. 23 SeptBuyers of property from non-residents can use PAN and Form 141 for TDSPolicy · 2 sources · Changes take effect October 1, 2026
All Income tax stories →

Read the reports

1 report · earliest 09:02
Mint₹85.30 lakh cash gifts from relatives: ITAT says donors’ low income alone isn’t enough to reject genuine gifts09:02