https://www.taxtmi.com/caselaws?id=75773 The High Court upheld the Tribunal's decision regarding the addition of Rs 24,77,000 under Section 68 of the Income-tax Act. The Court found that the gifts from the mother to the assessee were genuine, supported by evidence such as the mother's bank statement and a confirmation certificate. Emphasizing the familial relationship and the legitimate transaction channels used, the Court ruled that the Assessing Officer failed to provide sufficient evidence to challenge the authenticity of the gifts. Consequently, the appeal was dismissed, affirming the Tribunal's decision. en-us Tue, 27 Apr 2010 00:00:00 +0530 Thu, 03 Jan 2013 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75773 The High Court upheld the Tribunal's decision regarding the addition of Rs 24,77,000 under Section 68 of the Income-tax Act. The Court found that the gifts from the mother to the assessee were genuine, supported by evidence such as the mother's bank statement and a confirmation certificate. Emphasizing the familial relationship and the legitimate transaction channels used, the Court ruled that the Assessing Officer failed to provide sufficient evidence to challenge the authenticity of the gifts. Consequently, the appeal was dismissed, affirming the Tribunal's decision. Case-Laws Income Tax Tue, 27 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75773