Tag Archives: Gift from Wife

If Assessee failed to explain source of Gift from Wife , it is unexplained credit

By | February 3, 2016

Held The concept of receiving gift from wife is acceptable. However, onus is upon the assessee, to establish the identity of the person and also the creditworthiness of the person giving the gift. The first aspect of the issue is that the gift received by any person should be irrevocable. However, in the case of… Read More »