https://www.taxtmi.com/caselaws?id=204604 The Tribunal accepted the gift as genuine, ruling in favor of the assessee. The addition of Rs. 2.5 lakhs as unexplained income under Section 68 of the IT Act was deleted. The majority view emphasized the established identity and creditworthiness of the donor, along with a complete chain of events proving the genuineness of the gift transaction. en-us Thu, 30 Apr 2009 00:00:00 +0530 Mon, 22 Aug 2016 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204604 The Tribunal accepted the gift as genuine, ruling in favor of the assessee. The addition of Rs. 2.5 lakhs as unexplained income under Section 68 of the IT Act was deleted. The majority view emphasized the established identity and creditworthiness of the donor, along with a complete chain of events proving the genuineness of the gift transaction. Case-Laws Income Tax Thu, 30 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204604