https://www.taxtmi.com/caselaws?id=327045 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 2,00,000 as unexplained cash credit. The Tribunal found that the provision of section 56(2)(v) was not applicable as the transaction predated the amendment. The Tribunal emphasized that the relationship between the donor and donee was not a prerequisite for a gift, leading to the deletion of the addition based on the established friendly relationship between the parties. en-us Fri, 18 Mar 2016 00:00:00 +0530 Mon, 02 May 2016 00:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327045 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 2,00,000 as unexplained cash credit. The Tribunal found that the provision of section 56(2)(v) was not applicable as the transaction predated the amendment. The Tribunal emphasized that the relationship between the donor and donee was not a prerequisite for a gift, leading to the deletion of the addition based on the established friendly relationship between the parties. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327045