Genuineness of a gift transaction depend on immediate source of the gift
Oct 27, 2009 Income Tax Case Laws
SUMMARY OF CASE LAW
The adverse facts inter alia that the donor has no house, no telephone number, no fixed deposit and no other immovable assets are not so material to hold the gift not a genuine one or sources thereof unsatisfactory so long as the immediate source of the gift is admittedly established to be from a third party.
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