https://www.taxtmi.com/caselaws?id=235501 The Income Tax Appellate Tribunal reversed the Assessing Officer's decision to add Rs.2,22,000 as undisclosed income from a disputed gift received by the respondent from an N.R.E. account, citing lack of proof of the gift's genuineness. The Tribunal also deleted other additions made by the Assessing Officer, totaling Rs.2.42 lacs, related to undisclosed income and commission paid. The High Court ruled in favor of the revenue, setting aside the Tribunal's decision, as the respondent failed to provide satisfactory explanations regarding the disputed gifts and undisclosed income. en-us Thu, 04 Jul 2013 00:00:00 +0530 Thu, 25 Jul 2013 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235501 The Income Tax Appellate Tribunal reversed the Assessing Officer's decision to add Rs.2,22,000 as undisclosed income from a disputed gift received by the respondent from an N.R.E. account, citing lack of proof of the gift's genuineness. The Tribunal also deleted other additions made by the Assessing Officer, totaling Rs.2.42 lacs, related to undisclosed income and commission paid. The High Court ruled in favor of the revenue, setting aside the Tribunal's decision, as the respondent failed to provide satisfactory explanations regarding the disputed gifts and undisclosed income. Case-Laws Income Tax Thu, 04 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235501