https://www.taxtmi.com/caselaws?id=251935 The Tribunal dismissed the appellant's appeals concerning income from money lending business and gifts, upholding the department's position. The appellant's arguments on the sources of income were rejected, with the Tribunal emphasizing thorough verification and legal precedents. However, the court disagreed with the Tribunal's interpretation of gifts, ruling that gifts need not only come from known individuals. Consequently, the court allowed the appeals, overturning the Assessing Authority's decisions and validating the appellant's claims from revised returns. No costs were awarded, and pending petitions were resolved. en-us Tue, 02 Sep 2014 00:00:00 +0530 Mon, 06 Oct 2014 08:22:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251935 The Tribunal dismissed the appellant's appeals concerning income from money lending business and gifts, upholding the department's position. The appellant's arguments on the sources of income were rejected, with the Tribunal emphasizing thorough verification and legal precedents. However, the court disagreed with the Tribunal's interpretation of gifts, ruling that gifts need not only come from known individuals. Consequently, the court allowed the appeals, overturning the Assessing Authority's decisions and validating the appellant's claims from revised returns. No costs were awarded, and pending petitions were resolved. Case-Laws Income Tax Tue, 02 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251935