https://www.taxtmi.com/caselaws?id=193601 The Court dismissed the appeal, upholding the Tribunal's decisions on both issues. The appellant failed to prove the creditworthiness of the donor and the genuineness of the gift transaction, as well as provide verifiable documentation for the expenses. Consequently, the Court affirmed the addition of the gift receipt of Rs. 35 lakhs and Rs. 2 lakhs towards unverifiable expenses, emphasizing the appellant's failure to meet the burden of proof under section 68 of the Income Tax Act. en-us Fri, 20 May 2016 00:00:00 +0530 Wed, 09 Aug 2017 09:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193601 The Court dismissed the appeal, upholding the Tribunal's decisions on both issues. The appellant failed to prove the creditworthiness of the donor and the genuineness of the gift transaction, as well as provide verifiable documentation for the expenses. Consequently, the Court affirmed the addition of the gift receipt of Rs. 35 lakhs and Rs. 2 lakhs towards unverifiable expenses, emphasizing the appellant's failure to meet the burden of proof under section 68 of the Income Tax Act. Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193601