https://www.taxtmi.com/caselaws?id=173858 The Tribunal set aside the CIT(A)'s order deleting an addition of Rs. 20,05,000 under section 68 of the Income-tax Act, 1961. The Tribunal found discrepancies in the assessee's explanations regarding the source of funds for gifts and share investments, noting insufficient evidence and documentation. As the assessee failed to prove the source of the gifted amount and investments, the Tribunal concluded that the burden of proof was not discharged. Consequently, the A.O.'s order was restored, emphasizing the unsatisfactory nature of the assessee's explanations and lack of supporting documentation. en-us Fri, 25 Jun 2010 00:00:00 +0530 Wed, 23 Sep 2015 16:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173858 The Tribunal set aside the CIT(A)'s order deleting an addition of Rs. 20,05,000 under section 68 of the Income-tax Act, 1961. The Tribunal found discrepancies in the assessee's explanations regarding the source of funds for gifts and share investments, noting insufficient evidence and documentation. As the assessee failed to prove the source of the gifted amount and investments, the Tribunal concluded that the burden of proof was not discharged. Consequently, the A.O.'s order was restored, emphasizing the unsatisfactory nature of the assessee's explanations and lack of supporting documentation. Case-Laws Income Tax Fri, 25 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173858