https://www.taxtmi.com/caselaws?id=268458 The appeals challenging orders for assessment years 2003-04 and 2004-05 were initially found barred by limitation but later admitted for hearing after the delay was condoned due to health reasons. The assessment of gifts received as income in 2003-04 was upheld as the assessee failed to substantiate the genuineness of gifts. For 2004-05, issues regarding capital gains computation, deduction of transfer expenses, assessment of gifts, and interest income were addressed, with the tribunal directing further examination by the assessing officer. The judgment partially allowed the appeals for statistical purposes, emphasizing adherence to tax law principles. en-us Wed, 18 Nov 2015 00:00:00 +0530 Thu, 26 Nov 2015 06:52:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268458 The appeals challenging orders for assessment years 2003-04 and 2004-05 were initially found barred by limitation but later admitted for hearing after the delay was condoned due to health reasons. The assessment of gifts received as income in 2003-04 was upheld as the assessee failed to substantiate the genuineness of gifts. For 2004-05, issues regarding capital gains computation, deduction of transfer expenses, assessment of gifts, and interest income were addressed, with the tribunal directing further examination by the assessing officer. The judgment partially allowed the appeals for statistical purposes, emphasizing adherence to tax law principles. Case-Laws Income Tax Wed, 18 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268458