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The court, therefore, dismissed an appeal filed by the I-T Department challenging an order exempting tax on gifts received by the Uttar Pradesh chief minister during the assessment year 2003-04.
A Division Bench of Justices A K Sikri and Suresh Kait upheld the order passed by Income Tax Appellate Tribunal (ITAT) that gifts received by BSP supremo from party supporters were not taxable under the Income Tax Act.
ITAT had accepted Mayawati's claim that immovable property worth Rs 62.72 lakh and cash payments of Rs 2 lakh were gifts given by her supporters out of love and affection.
The government in its appeal had held her claim as unacceptable and contended that cash and property given to Mayawati should be included in her annual income tax return. The case pertains to the assessment year 2003-04.
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It is high time reservations in Judiciary reappealed.
GIFTS OF LOVE OR FOR THAT MATTER GIFTS IN ANY FORM IS TAXABLE IN SINGAPORE AND INDIA SHOULD LEARN TO GOVERN AND GOVERN WELL AND CHANGE ITS LAWS ON TAXATION AND CHARGE MAYAWATI AND FOR THAT MATTER ANYONE WHO GIFTS OUT OF LOVE AND ONLY GIFTS RECIEVED BY SANCTIONED CHARITABLE ORGANISATIONS SHOULD BE NOT TAXED AND ONLY THE GOVERNMENT WILL HAVE THE FINAL SAY ON HOW TO GRANT CHARITABILE ORGANISATIONS SUCH EXAMPTIONS
Our corrupt judiciary's milestone judegment will bolster our politician as a tool and a good excuse to convert all black and corrupt money in to white.
YES ... it is a legal way of CORRUPTION ... now, even ruled by the COURT ... NO, IT CAN'T BE ... this way, how the menace/monster of corruption will be tackled ... SUPREME COURT MUST INTERVENE AND SEE THAT NO SUCH LOOPHOLES REMAIN IN THE LAW ...