https://www.taxtmi.com/caselaws?id=62460 The Tribunal allowed the appeals in the case, partially adjusting the computation of total income and net wealth. In the Income Tax Appeal, the disputed amount of Rs.15,000 was excluded from the assessee's income as the creditor confirmed the loan transaction, meeting the burden of proof. Additionally, interest income arising from cross gifts was upheld as part of the total income. In the Wealth Tax Appeal, Rs.15,000 was excluded from net wealth, while Rs.30,000 was included based on the interconnected nature of transactions and findings in the Income Tax Appeal. en-us Fri, 13 Oct 1978 00:00:00 +0530 Thu, 20 Jan 2011 09:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62460 The Tribunal allowed the appeals in the case, partially adjusting the computation of total income and net wealth. In the Income Tax Appeal, the disputed amount of Rs.15,000 was excluded from the assessee's income as the creditor confirmed the loan transaction, meeting the burden of proof. Additionally, interest income arising from cross gifts was upheld as part of the total income. In the Wealth Tax Appeal, Rs.15,000 was excluded from net wealth, while Rs.30,000 was included based on the interconnected nature of transactions and findings in the Income Tax Appeal. Case-Laws Income Tax Fri, 13 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62460