https://www.taxtmi.com/caselaws?id=370978 The Tribunal upheld the decision of lower authorities, ruling against the assessee in the dispute over the taxability of a cash gift of Rs. 10,50,000 from the father. The Tribunal found the assessee failed to sufficiently prove the genuineness of the gift and the father's capacity to provide it. Despite the submission of a gift deed, the lack of corroborative evidence led to the dismissal of the appeal. The Tribunal emphasized the burden of proof on the assessee to substantiate the legitimacy of the gift under the Income Tax Act, 1961. en-us Fri, 12 Oct 2018 00:00:00 +0530 Tue, 27 Nov 2018 06:39:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370978 The Tribunal upheld the decision of lower authorities, ruling against the assessee in the dispute over the taxability of a cash gift of Rs. 10,50,000 from the father. The Tribunal found the assessee failed to sufficiently prove the genuineness of the gift and the father's capacity to provide it. Despite the submission of a gift deed, the lack of corroborative evidence led to the dismissal of the appeal. The Tribunal emphasized the burden of proof on the assessee to substantiate the legitimacy of the gift under the Income Tax Act, 1961. Case-Laws Income Tax Fri, 12 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370978