https://www.taxtmi.com/caselaws?id=186151 A receipt was taxable under section 56(2)(v) only if it constituted a "sum of money"; gifts of IMDs, being instruments and not money, fell outside that provision, and no addition under section 68 was sustainable on the record where the gift evidence was not disputed. In a bogus long-term capital gain arrangement, addition could extend only to the unexplained cash component or differential benefit actually not accounted for, and not to the disclosed purchase cost already offered in the return. Where the assessee's withdrawals were supported by material and not rebutted, no further estimate for low household withdrawals was justified. en-us Tue, 31 Jan 2012 00:00:00 +0530 Thu, 08 Sep 2016 16:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186151 A receipt was taxable under section 56(2)(v) only if it constituted a "sum of money"; gifts of IMDs, being instruments and not money, fell outside that provision, and no addition under section 68 was sustainable on the record where the gift evidence was not disputed. In a bogus long-term capital gain arrangement, addition could extend only to the unexplained cash component or differential benefit actually not accounted for, and not to the disclosed purchase cost already offered in the return. Where the assessee's withdrawals were supported by material and not rebutted, no further estimate for low household withdrawals was justified. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186151