https://www.taxtmi.com/caselaws?id=269825 Gifts credited to the assessee's capital account were held not to be genuine because the assessee failed to prove the donors' identity, creditworthiness and the genuineness of the gifts. The evidence showed meagre incomes for several donors, inadequate explanation of capacity by the donors who appeared, and only bare confirmations for NRI donors without sufficient corroboration of identity or financial capacity. As no real relationship of natural love and affection was established and the explanation for the credits was unacceptable, the amounts were rightly treated as unexplained cash credits under section 68. en-us Tue, 25 Aug 2015 00:00:00 +0530 Tue, 03 May 2016 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269825 Gifts credited to the assessee's capital account were held not to be genuine because the assessee failed to prove the donors' identity, creditworthiness and the genuineness of the gifts. The evidence showed meagre incomes for several donors, inadequate explanation of capacity by the donors who appeared, and only bare confirmations for NRI donors without sufficient corroboration of identity or financial capacity. As no real relationship of natural love and affection was established and the explanation for the credits was unacceptable, the amounts were rightly treated as unexplained cash credits under section 68. Case-Laws Income Tax Tue, 25 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269825