https://www.taxtmi.com/caselaws?id=183483 The ITAT partly allowed the assessee's appeal by deleting the additions for unexplained investments and low household withdrawals, but confirming the addition for unexplained gifts. The ITAT held that section 50C does not apply to the purchaser, leading to the deletion of the additions related to unexplained investments. The lack of evidence regarding the donors' financial capacity and the absence of a relationship or occasion for the gifts resulted in the confirmation of the addition for unexplained gifts. Additionally, the ITAT found the addition for low household withdrawals unjustified and deleted it. en-us Fri, 09 Apr 2010 00:00:00 +0530 Fri, 10 Jun 2016 17:46:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183483 The ITAT partly allowed the assessee's appeal by deleting the additions for unexplained investments and low household withdrawals, but confirming the addition for unexplained gifts. The ITAT held that section 50C does not apply to the purchaser, leading to the deletion of the additions related to unexplained investments. The lack of evidence regarding the donors' financial capacity and the absence of a relationship or occasion for the gifts resulted in the confirmation of the addition for unexplained gifts. Additionally, the ITAT found the addition for low household withdrawals unjustified and deleted it. Case-Laws Income Tax Fri, 09 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183483