https://www.taxtmi.com/caselaws?id=7772 Mere credit entries in a firm's books do not by themselves create a valid gift. Book entries may be relevant evidence of a transfer, but a completed gift also requires supporting material showing acceptance and effective completion of the transaction by the donee. On the limited question whether entries alone could establish the alleged gifts, the evidence was insufficient. The claimed gifts were therefore not proved, and the answer was against the assessee. en-us Tue, 08 Aug 1967 00:00:00 +0530 Thu, 19 Mar 2009 09:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7772 Mere credit entries in a firm's books do not by themselves create a valid gift. Book entries may be relevant evidence of a transfer, but a completed gift also requires supporting material showing acceptance and effective completion of the transaction by the donee. On the limited question whether entries alone could establish the alleged gifts, the evidence was insufficient. The claimed gifts were therefore not proved, and the answer was against the assessee. Case-Laws Income Tax Tue, 08 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7772