https://www.taxtmi.com/caselaws?id=237858 The High Court upheld the Income Tax Appellate Tribunal's decision to delete the addition of Rs. 74,40,000 on account of unexplained cash credit in a case where the Revenue challenged the genuineness of gifts received by the assessee. Despite suspicions raised by the Assessing Officer and CIT(A), the Tribunal found the gifts to be genuine based on the documents provided by the assessee, including DD copies, gift deeds, and PAN cards. The Court accepted the Tribunal's reasoning, concluding that the evidence presented was sufficient to support the deletion of the addition from the assessee's income computation. en-us Thu, 21 Feb 2013 00:00:00 +0530 Mon, 07 Oct 2013 22:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237858 The High Court upheld the Income Tax Appellate Tribunal's decision to delete the addition of Rs. 74,40,000 on account of unexplained cash credit in a case where the Revenue challenged the genuineness of gifts received by the assessee. Despite suspicions raised by the Assessing Officer and CIT(A), the Tribunal found the gifts to be genuine based on the documents provided by the assessee, including DD copies, gift deeds, and PAN cards. The Court accepted the Tribunal's reasoning, concluding that the evidence presented was sufficient to support the deletion of the addition from the assessee's income computation. Case-Laws Income Tax Thu, 21 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237858