https://www.taxtmi.com/caselaws?id=9406 The High Court affirmed the addition of gifts to the assessee's income for assessment years 1987-88 and 1988-89. Despite establishing donor identities, the assessee failed to prove donor creditworthiness as required by section 68 of the Income-tax Act. The court upheld the Revenue's decision, emphasizing the importance of demonstrating donors' financial capacity for gifts. The Tribunal's findings were supported by the evidence, leading to no interference with the decision. en-us Fri, 29 Jul 2005 00:00:00 +0530 Fri, 12 Aug 2016 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9406 The High Court affirmed the addition of gifts to the assessee's income for assessment years 1987-88 and 1988-89. Despite establishing donor identities, the assessee failed to prove donor creditworthiness as required by section 68 of the Income-tax Act. The court upheld the Revenue's decision, emphasizing the importance of demonstrating donors' financial capacity for gifts. The Tribunal's findings were supported by the evidence, leading to no interference with the decision. Case-Laws Income Tax Fri, 29 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9406