https://www.taxtmi.com/caselaws?id=214554 The Tribunal upheld the additions of Rs.1,00,000 and Rs.2,00,000 as gifts from different donors, citing lack of proof of identity and creditworthiness. Despite documentary evidence, the gifts were deemed unproven. The burden of proof rested on the assessee, who failed to substantiate the transactions' genuineness. The Tribunal rejected claims of arbitrary disbelief and justified the jurisdiction under section 148. Additionally, it allowed the Rs.3,00,000 addition despite the initial Rs.1,00,000 reason. Section 68 applied due to entries in the assessee's books. The appeal was dismissed, affirming the Assessing Officer's decisions. en-us Fri, 08 Jun 2012 00:00:00 +0530 Thu, 05 Jul 2012 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214554 The Tribunal upheld the additions of Rs.1,00,000 and Rs.2,00,000 as gifts from different donors, citing lack of proof of identity and creditworthiness. Despite documentary evidence, the gifts were deemed unproven. The burden of proof rested on the assessee, who failed to substantiate the transactions' genuineness. The Tribunal rejected claims of arbitrary disbelief and justified the jurisdiction under section 148. Additionally, it allowed the Rs.3,00,000 addition despite the initial Rs.1,00,000 reason. Section 68 applied due to entries in the assessee's books. The appeal was dismissed, affirming the Assessing Officer's decisions. Case-Laws Income Tax Fri, 08 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214554