https://www.taxtmi.com/caselaws?id=185736 The ITAT dismissed both appeals of the revenue, upholding the CIT(A)'s decision to delete the additions made by the AO regarding the assessment of NRE gifts. The ITAT found that the assessees had provided sufficient evidence to establish the identity, capacity, and genuineness of the gifts, including remittances from abroad and assets owned by the donors. The ITAT concluded that the gifts were not deemed bogus, and the creditworthiness of the donors was adequately proven, distinguishing this case from previous authorities cited by the revenue. en-us Fri, 30 Dec 2011 00:00:00 +0530 Wed, 24 Aug 2016 18:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185736 The ITAT dismissed both appeals of the revenue, upholding the CIT(A)'s decision to delete the additions made by the AO regarding the assessment of NRE gifts. The ITAT found that the assessees had provided sufficient evidence to establish the identity, capacity, and genuineness of the gifts, including remittances from abroad and assets owned by the donors. The ITAT concluded that the gifts were not deemed bogus, and the creditworthiness of the donors was adequately proven, distinguishing this case from previous authorities cited by the revenue. Case-Laws Income Tax Fri, 30 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185736