https://www.taxtmi.com/caselaws?id=256154 The ITAT upheld the Ld. CIT(A)'s decision to delete additions made by the Revenue: Rs. 5,00,000 for unexplained gifts, Rs. 11,80,000 for unexplained unsecured loans, and Rs. 7,000 for travelling and conveyance expenses. The Ld. CIT(A) accepted the assessee's evidence for gifts and loans, emphasizing the duty to prove genuineness. Regarding expenses, no discrepancies were found. The ITAT affirmed the Ld. CIT(A)'s order in full, dismissing the Revenue's appeal. en-us Wed, 31 Dec 2014 00:00:00 +0530 Thu, 05 Feb 2015 05:55:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256154 The ITAT upheld the Ld. CIT(A)'s decision to delete additions made by the Revenue: Rs. 5,00,000 for unexplained gifts, Rs. 11,80,000 for unexplained unsecured loans, and Rs. 7,000 for travelling and conveyance expenses. The Ld. CIT(A) accepted the assessee's evidence for gifts and loans, emphasizing the duty to prove genuineness. Regarding expenses, no discrepancies were found. The ITAT affirmed the Ld. CIT(A)'s order in full, dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 31 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256154