https://www.taxtmi.com/caselaws?id=204662 The Tribunal upheld the AO's decision to treat the gift of Rs. 30,00,000 as nongenuine and added it to the assessee's income under Section 68 of the Income Tax Act. The Tribunal found the lack of proof regarding the genuineness of the gift, the absence of a close relationship between the donor and donee, and the questionable motive behind the gift. The appeal was dismissed, emphasizing that mere banking transactions and documentation were insufficient to establish the legitimacy of the gift. en-us Fri, 04 Jun 2010 00:00:00 +0530 Thu, 09 Aug 2012 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204662 The Tribunal upheld the AO's decision to treat the gift of Rs. 30,00,000 as nongenuine and added it to the assessee's income under Section 68 of the Income Tax Act. The Tribunal found the lack of proof regarding the genuineness of the gift, the absence of a close relationship between the donor and donee, and the questionable motive behind the gift. The appeal was dismissed, emphasizing that mere banking transactions and documentation were insufficient to establish the legitimacy of the gift. Case-Laws Income Tax Fri, 04 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204662