https://www.taxtmi.com/caselaws?id=361032 The appellate tribunal ruled in favor of the assessee, deleting the addition made by the Assessing Officer under section 68 of the Income Tax Act. The tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the gifts received from her daughter through proper documentation and banking channels. The burden of proof was considered met, and doubts regarding the daughter's creditworthiness were deemed irrelevant. Consequently, the tribunal allowed the appeal, emphasizing that gifts from a close relative with proper documentation cannot be treated as unexplained cash credits. en-us Wed, 23 May 2018 00:00:00 +0530 Mon, 28 May 2018 10:19:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361032 The appellate tribunal ruled in favor of the assessee, deleting the addition made by the Assessing Officer under section 68 of the Income Tax Act. The tribunal found that the assessee had adequately proven the identity, creditworthiness, and genuineness of the gifts received from her daughter through proper documentation and banking channels. The burden of proof was considered met, and doubts regarding the daughter's creditworthiness were deemed irrelevant. Consequently, the tribunal allowed the appeal, emphasizing that gifts from a close relative with proper documentation cannot be treated as unexplained cash credits. Case-Laws Income Tax Wed, 23 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361032