https://www.taxtmi.com/caselaws?id=13288 The High Court dismissed the appeal against the ITAT's order for the assessment year 1998-99, upholding the Tribunal's findings that the gifts received by the assessee were not genuine. The court emphasized the requirement to establish the identity, creditworthiness, and genuineness of the donors, and found no substantial question of law arose from the factual determinations made by the Tribunal. The court rejected the assessee's reliance on previous judgments, underscoring the necessity of proving the donor's means and the genuine nature of the gifts. The matter concerning a gift from the assessee's nephew was remanded for further assessment. en-us Fri, 15 Sep 2006 00:00:00 +0530 Fri, 23 Feb 2024 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13288 The High Court dismissed the appeal against the ITAT's order for the assessment year 1998-99, upholding the Tribunal's findings that the gifts received by the assessee were not genuine. The court emphasized the requirement to establish the identity, creditworthiness, and genuineness of the donors, and found no substantial question of law arose from the factual determinations made by the Tribunal. The court rejected the assessee's reliance on previous judgments, underscoring the necessity of proving the donor's means and the genuine nature of the gifts. The matter concerning a gift from the assessee's nephew was remanded for further assessment. Case-Laws Income Tax Fri, 15 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13288