https://www.taxtmi.com/caselaws?id=331391 The Tribunal allowed the appeal, ruling that the gift received in the form of an Indian Millennium Deposit was not taxable as unexplained credit under Section 68. The interest earned on the deposit was also deemed exempt under Section 10(15)(i). The Tribunal found the explanations provided by the assessee regarding the gift to be genuine and satisfactory, ultimately concluding in favor of the assessee on 19th August 2016. en-us Fri, 19 Aug 2016 00:00:00 +0530 Mon, 22 Aug 2016 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331391 The Tribunal allowed the appeal, ruling that the gift received in the form of an Indian Millennium Deposit was not taxable as unexplained credit under Section 68. The interest earned on the deposit was also deemed exempt under Section 10(15)(i). The Tribunal found the explanations provided by the assessee regarding the gift to be genuine and satisfactory, ultimately concluding in favor of the assessee on 19th August 2016. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331391