Revenue Authorities Confirm Tax Additions Due to Assessee's Failure to Prove Creditor's Capacity in Unexplained Gifts Case.

Revenue Authorities Confirm Tax Additions Due to Assessee's Failure to Prove Creditor's Capacity in Unexplained Gifts Case. https://www.taxtmi.com/highlights?id=24066 Unexplained gift/loans received - Gift received - the capacity of the creditor alone was questioned by the revenue authorities. This cannot be equated as calling upon the assessee to furnish source of source - assessee failed to prove the capacity - additions confirmed - AT en-us Wed, 05 Aug 2015 06:39:23 +0530 Wed, 05 Aug 2015 06:39:23 +0530 TaxTMI RSS Generator Revenue Authorities Confirm Tax Additions Due to Assessee's Failure to Prove Creditor's Capacity in Unexplained Gifts Case. https://www.taxtmi.com/highlights?id=24066 Unexplained gift/loans received - Gift received - the capacity of the creditor alone was questioned by the revenue authorities. This cannot be equated as calling upon the assessee to furnish source of source - assessee failed to prove the capacity - additions confirmed - AT Highlights Income Tax Wed, 05 Aug 2015 06:39:23 +0530 https://www.taxtmi.com/highlights?id=24066