https://www.taxtmi.com/caselaws?id=68521 Gifts received through banking channels were treated as genuine where the donor's identity, residence abroad, NRE account, and supporting documents established the transaction, and suspicion alone was insufficient to treat the amount as undisclosed income. Gifts from near relatives were also accepted as genuine because identity, creditworthiness, and banking trail were proved, and no contrary material displaced the record. For capital gains, the agricultural land value as on 1 April 1981 was sustained at Rs. 33,000 per bigha because the lower estimate was not properly supported and the later accepted valuation provided a reasonable basis. en-us Fri, 09 Jan 2004 00:00:00 +0530 Fri, 28 Jun 2024 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68521 Gifts received through banking channels were treated as genuine where the donor's identity, residence abroad, NRE account, and supporting documents established the transaction, and suspicion alone was insufficient to treat the amount as undisclosed income. Gifts from near relatives were also accepted as genuine because identity, creditworthiness, and banking trail were proved, and no contrary material displaced the record. For capital gains, the agricultural land value as on 1 April 1981 was sustained at Rs. 33,000 per bigha because the lower estimate was not properly supported and the later accepted valuation provided a reasonable basis. Case-Laws Income Tax Fri, 09 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68521