https://www.taxtmi.com/caselaws?id=13501 The HC set aside the Income-tax Appellate Tribunal's decision, which had upheld the deletion of a Rs. 20 lakh addition to the assessee's income for the assessment year 1995-96. The HC found that the assessee failed to adequately prove the financial capacity, credit-worthiness, and relationship with the donors of the alleged gifts. Thus, the substantial question of law was resolved in favor of the Revenue, emphasizing the necessity of substantiating the genuineness and capacity of donors in such cases. en-us Tue, 13 Mar 2007 00:00:00 +0530 Sat, 17 Feb 2024 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13501 The HC set aside the Income-tax Appellate Tribunal's decision, which had upheld the deletion of a Rs. 20 lakh addition to the assessee's income for the assessment year 1995-96. The HC found that the assessee failed to adequately prove the financial capacity, credit-worthiness, and relationship with the donors of the alleged gifts. Thus, the substantial question of law was resolved in favor of the Revenue, emphasizing the necessity of substantiating the genuineness and capacity of donors in such cases. Case-Laws Income Tax Tue, 13 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13501