Thanks for the queries !
From the taxation point of view, gift received from relatives is not taxable in the hands of the recipient. However, the relative has been specifically defined under the act which includes the following people:
3. Brother/sister of Spouse
4.Brother or sister of either of the parents
5. Any lineal ascendant or descendent
6. Any lineal ascendant or descendent of the spouse
Hence in your case, both immoveable property and the cash received from any of the relatives mentioned above shall not be chargeable to tax.
Further, there is no limit on the cash balance to be shown in any balance sheet provided the same should be justifiable to the tax officer. In other words, one should be able to prove the source of such cash.
Thanks & Regards,