https://www.taxtmi.com/caselaws?id=117828 The Tribunal found that the assessment order dated 28-3-2003 was not erroneous or prejudicial to the interest of Revenue. It concluded that the assessee had provided adequate evidence to establish the genuineness of gifts totaling Rs. 22,04,000 and unsecured loans amounting to Rs. 17,40,784. The Tribunal emphasized that the assessment order was based on due inquiries and evidence appreciation, and overturned the CIT's decision under section 263 of the Act. The Tribunal allowed the assessee's appeal, setting aside the CIT's order. en-us Mon, 25 Oct 2004 00:00:00 +0530 Tue, 26 Jun 2012 17:22:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117828 The Tribunal found that the assessment order dated 28-3-2003 was not erroneous or prejudicial to the interest of Revenue. It concluded that the assessee had provided adequate evidence to establish the genuineness of gifts totaling Rs. 22,04,000 and unsecured loans amounting to Rs. 17,40,784. The Tribunal emphasized that the assessment order was based on due inquiries and evidence appreciation, and overturned the CIT's decision under section 263 of the Act. The Tribunal allowed the assessee's appeal, setting aside the CIT's order. Case-Laws Income Tax Mon, 25 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117828