https://www.taxtmi.com/caselaws?id=250730 The High Court reviewed the correctness of deleting additions of foreign gifts received by the assessees. The Tribunal had initially deemed the foreign gifts claimed by the assessees as genuine, leading to their deletion. However, the Assessing Officer and the Commissioner of Income-tax (Appeals) raised concerns about the validity of these gifts. The High Court ultimately upheld the Revenue's appeal, concluding that the Tribunal's findings were not sustainable, and the additions were reinstated in favor of the Revenue. en-us Wed, 29 Jan 2014 00:00:00 +0530 Sat, 23 Aug 2014 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250730 The High Court reviewed the correctness of deleting additions of foreign gifts received by the assessees. The Tribunal had initially deemed the foreign gifts claimed by the assessees as genuine, leading to their deletion. However, the Assessing Officer and the Commissioner of Income-tax (Appeals) raised concerns about the validity of these gifts. The High Court ultimately upheld the Revenue's appeal, concluding that the Tribunal's findings were not sustainable, and the additions were reinstated in favor of the Revenue. Case-Laws Income Tax Wed, 29 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250730