https://www.taxtmi.com/caselaws?id=278746 The Tribunal upheld the decisions of the lower authorities in dismissing the appeals by husband and wife assessees due to insufficient evidence supporting the claimed gifts. Despite providing documents, the lack of substantiated explanation regarding the nature and source of the cash credits led to the rejection of the gift claims. The Tribunal concurred with the Assessing Officer and CIT(A) in finding the gifts not genuine, emphasizing the necessity of establishing transaction genuineness in tax assessments. en-us Wed, 10 Jul 2013 00:00:00 +0530 Tue, 19 Feb 2019 11:01:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278746 The Tribunal upheld the decisions of the lower authorities in dismissing the appeals by husband and wife assessees due to insufficient evidence supporting the claimed gifts. Despite providing documents, the lack of substantiated explanation regarding the nature and source of the cash credits led to the rejection of the gift claims. The Tribunal concurred with the Assessing Officer and CIT(A) in finding the gifts not genuine, emphasizing the necessity of establishing transaction genuineness in tax assessments. Case-Laws Income Tax Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278746