https://www.taxtmi.com/caselaws?id=220468 The High Court upheld the decision to add Rs. 5,00,000 under section 68 of the Income Tax Act as income, as the appellant failed to prove the gift's authenticity. The Court also supported the reopening of the assessment under section 147 due to relevant information indicating involvement in providing bogus entries. The rejection of the gift received was upheld, emphasizing the appellant's failure to substantiate the claim adequately. The Court confirmed the addition of Rs. 5,00,000 as income, highlighting the appellant's inability to prove the transaction as a genuine gift. en-us Thu, 17 Jan 2013 00:00:00 +0530 Fri, 25 Jan 2013 06:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220468 The High Court upheld the decision to add Rs. 5,00,000 under section 68 of the Income Tax Act as income, as the appellant failed to prove the gift's authenticity. The Court also supported the reopening of the assessment under section 147 due to relevant information indicating involvement in providing bogus entries. The rejection of the gift received was upheld, emphasizing the appellant's failure to substantiate the claim adequately. The Court confirmed the addition of Rs. 5,00,000 as income, highlighting the appellant's inability to prove the transaction as a genuine gift. Case-Laws Income Tax Thu, 17 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220468