https://www.taxtmi.com/caselaws?id=255588 The Tribunal upheld the CIT(A)'s decision, dismissing the assessee's appeal. The Tribunal found that the assessee failed to prove the genuineness and creditworthiness of the Rs. 25 lacs gift, highlighting inconsistencies in the donor's statements and suspicious circumstances. The Tribunal also rejected the claim of being denied the opportunity for cross-examination, citing lack of new evidence and significant time lapse. Consequently, the addition of Rs. 25 lacs as unexplained credit under Section 68 of the Income Tax Act was confirmed in the order pronounced on 09th January 2015. en-us Fri, 09 Jan 2015 00:00:00 +0530 Wed, 21 Jan 2015 08:22:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255588 The Tribunal upheld the CIT(A)'s decision, dismissing the assessee's appeal. The Tribunal found that the assessee failed to prove the genuineness and creditworthiness of the Rs. 25 lacs gift, highlighting inconsistencies in the donor's statements and suspicious circumstances. The Tribunal also rejected the claim of being denied the opportunity for cross-examination, citing lack of new evidence and significant time lapse. Consequently, the addition of Rs. 25 lacs as unexplained credit under Section 68 of the Income Tax Act was confirmed in the order pronounced on 09th January 2015. Case-Laws Income Tax Fri, 09 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255588