SUPPOSE A BOY CHILD NAME MOHIT(18 ) IS ADOPTED BY A PERSON NAMED BRIJESH SINGH. THE PREVIOUS FATHER OF MOHIT GIFTED HIM A SUM OF ₹15 LAKHS AS A GIFT AFTER HIS ADOPTION.
NOW TELL THAT IS THE ABOVE TRANSACTION IS EXEMPTED UNDER INCOME TAX ACT 1961 AND IF NOT EXEMPTED, THEN IN WHOSE HANDS TAX LIABLITY WILL BE TAKEN?
