ITAT to re-examine Raj Kundra's ₹12.5-crore gift to Shilpa Shetty

The Income-Tax Appellate Tribunal (ITAT) ordered a fresh inquiry into Raj Kundra's ₹12.5-crore gift to his wife, Shilpa Shetty. Although Shilpa had gotten partial relief in the case previously, ITAT flagged the gift as "unexplained credit" as Kundra's bank statements showed a ₹27.71-lakh income. Therefore, the ₹12.5-crore gift case has been sent back to the Assessing Officer for re-examination.