https://www.taxtmi.com/caselaws?id=71234 The Tribunal upheld the CIT(A)'s decisions to delete additions made by the AO in a tax case involving issues of gift received by the assessee, unexplained investment in property, and unexplained cash credits. The Tribunal found that the gift received was genuine despite the lack of a blood relationship with the donor, the AO lacked authority to refer the case to a Valuation Officer without evidence of undervaluation in property, and the Department failed to prove the unexplained cash credits were not genuine. The Tribunal dismissed the Department's appeal, affirming the deletions on all three issues. en-us Thu, 17 Feb 2000 00:00:00 +0530 Fri, 22 Apr 2011 10:48:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71234 The Tribunal upheld the CIT(A)'s decisions to delete additions made by the AO in a tax case involving issues of gift received by the assessee, unexplained investment in property, and unexplained cash credits. The Tribunal found that the gift received was genuine despite the lack of a blood relationship with the donor, the AO lacked authority to refer the case to a Valuation Officer without evidence of undervaluation in property, and the Department failed to prove the unexplained cash credits were not genuine. The Tribunal dismissed the Department's appeal, affirming the deletions on all three issues. Case-Laws Income Tax Thu, 17 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71234