Bombay High Court Considers Whether Gifts from Non-Resident Indians Through NRE Accounts Constitute Undisclosed Income Under Section 158B(b) in Block Assessment. Key Issue Is Whether Gifts Recorded in Books and Disclosed in Returns Before Search Can Be Taxed as Undisclosed Income When No Incriminating Material Found.
18 Sep 2012The High Court of Judicature at Bombay heard an income tax appeal under Section 260A against an order of the Income Tax Appellate Tribunal which had s...




