https://www.taxtmi.com/caselaws?id=203634 The Tribunal's deletion of the addition of Rs.2,20,000 made by the Assessing Officer on account of a bogus NRE gift was overturned by the Court. The Court found that the alleged gift was not proven to be genuine as the donor's financial capacity was not established, leading to the conclusion that the gift was bogus. The Court emphasized the importance of proving natural love and affection and the financial capacity of the donor to establish the genuineness of a gift. Consequently, the appeal was allowed in favor of the revenue. en-us Tue, 15 Feb 2011 00:00:00 +0530 Thu, 09 Jun 2011 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203634 The Tribunal's deletion of the addition of Rs.2,20,000 made by the Assessing Officer on account of a bogus NRE gift was overturned by the Court. The Court found that the alleged gift was not proven to be genuine as the donor's financial capacity was not established, leading to the conclusion that the gift was bogus. The Court emphasized the importance of proving natural love and affection and the financial capacity of the donor to establish the genuineness of a gift. Consequently, the appeal was allowed in favor of the revenue. Case-Laws Income Tax Tue, 15 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203634