Cash Gift of Rs. 39 Lakh from Husband during Assessment Proceedings was Mere Afterthought after Search: ITAT Upholds Addition

The Income Tax Appellate Tribunal (ITAT) Bench at Chennai has recently held that, the claim of  the assessee, K Gomati that Rs. 39 Lakhs was received as gift from husband during the assessment proceedings was merely an afterthought of search. Subsequently, the addition made by the Assessing Officer (AO) was upheld.

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