https://www.taxtmi.com/caselaws?id=372829 The appeal under Section 260A of the Income-tax Act was filed against the order of the Income-tax Appellate Tribunal regarding unexplained credits under Section 68 for a gift/loan received. The Assessing Officer treated the gift and loan as unexplained credits, leading to their addition to the total income. The appellant argued that the gift was received through banking channels with supporting documentation, but the Tribunal found the lack of proof regarding the nephew's income and the source of funds, ultimately quashing the alleged gift due to lack of human probability and unproven creditworthiness of the donor. The Court emphasized the burden of proof on the assessee and dismissed the appeal based on substantial questions of law. en-us Fri, 14 Dec 2018 00:00:00 +0530 Fri, 11 Jan 2019 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372829 The appeal under Section 260A of the Income-tax Act was filed against the order of the Income-tax Appellate Tribunal regarding unexplained credits under Section 68 for a gift/loan received. The Assessing Officer treated the gift and loan as unexplained credits, leading to their addition to the total income. The appellant argued that the gift was received through banking channels with supporting documentation, but the Tribunal found the lack of proof regarding the nephew's income and the source of funds, ultimately quashing the alleged gift due to lack of human probability and unproven creditworthiness of the donor. The Court emphasized the burden of proof on the assessee and dismissed the appeal based on substantial questions of law. Case-Laws Income Tax Fri, 14 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372829