https://www.taxtmi.com/caselaws?id=264296 The appeal was dismissed by the Tribunal as it upheld the rejection of capital account transactions as a gift and treated it as income. The Tribunal found that the appellant failed to establish the genuineness of the transactions, emphasizing the lack of evidence of a genuine gift and the absence of a close relationship between the donor and the appellant. The Tribunal considered the donor's denial of making any gift and providing a pay order instead of cash as indications of the lack of genuineness. Consequently, the appeal was dismissed based on factual findings that were deemed not illegal or perverse. en-us Tue, 01 Sep 2015 00:00:00 +0530 Tue, 22 Sep 2015 06:55:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264296 The appeal was dismissed by the Tribunal as it upheld the rejection of capital account transactions as a gift and treated it as income. The Tribunal found that the appellant failed to establish the genuineness of the transactions, emphasizing the lack of evidence of a genuine gift and the absence of a close relationship between the donor and the appellant. The Tribunal considered the donor's denial of making any gift and providing a pay order instead of cash as indications of the lack of genuineness. Consequently, the appeal was dismissed based on factual findings that were deemed not illegal or perverse. Case-Laws Income Tax Tue, 01 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264296