Widow faced tax demand over Rs 60 lakh cash deposit in her bank account; ITAT Pune accepts explanation that it was a gift from husband and deletes addition
The woman said her husband deposited the money as a gift intended for her and their two minor daughters. (Image for representative purpose only) Your husband deposits money in your account as a gift for you and your daughters but then passes away. Are you liable to pay tax on the deposit?In one such case…