M&A Critique

CASE LAW: ACIT vs Anitha Kumaran 1164/Chny/2019

Snapshot:

The Income Tax Appellate Tribunal (ITAT), Chennai held that property received from a private limited company by one of the family member of the shareholder pursuant to a will of the shareholder is not be treated as income from other sources under Sec 56(2)(vii) in the hands of the family member.

Aniruddha Jain