https://www.taxtmi.com/caselaws?id=151189 Foreign gifts may be treated as unexplained cash credits where the assessee fails to prove the donors' identity, genuineness and creditworthiness on the basis of surrounding circumstances and human probabilities, and the addition under section 68 was sustained. Annual letting value of house properties must be determined on a proper legal basis, and the estimate was set aside for fresh examination by the Assessing Officer. Interest on borrowing against fixed deposits and onward advance of the funds to a company in which the assessee was a director was disallowed because commercial expediency was not established and no sustainable deduction basis was shown. en-us Fri, 23 Jan 2009 00:00:00 +0530 Sat, 01 Jun 2013 13:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151189 Foreign gifts may be treated as unexplained cash credits where the assessee fails to prove the donors' identity, genuineness and creditworthiness on the basis of surrounding circumstances and human probabilities, and the addition under section 68 was sustained. Annual letting value of house properties must be determined on a proper legal basis, and the estimate was set aside for fresh examination by the Assessing Officer. Interest on borrowing against fixed deposits and onward advance of the funds to a company in which the assessee was a director was disallowed because commercial expediency was not established and no sustainable deduction basis was shown. Case-Laws Income Tax Fri, 23 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151189