https://www.taxtmi.com/caselaws?id=103139 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs. 13 lakhs made by the Assessing Officer under section 68 on account of unexplained gifts from unrelated NRIs. The Tribunal found that the assessee adequately proved the identity and capacity of the cash creditors, as well as the genuineness of the transactions, emphasizing that additions cannot be based solely on suspicion. en-us Wed, 18 Sep 2002 00:00:00 +0530 Mon, 20 Feb 2012 18:26:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103139 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision to delete the addition of Rs. 13 lakhs made by the Assessing Officer under section 68 on account of unexplained gifts from unrelated NRIs. The Tribunal found that the assessee adequately proved the identity and capacity of the cash creditors, as well as the genuineness of the transactions, emphasizing that additions cannot be based solely on suspicion. Case-Laws Income Tax Wed, 18 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103139