https://www.taxtmi.com/caselaws?id=375955 The Tribunal allowed the appeal, deleting both additions of Rs. 5 lakhs as small gifts and Rs. 1,30,000 from the sale of a plot of land. The genuineness of the gifts was proven by the assessee, leading to the deletion of the first addition. The Tribunal held that the AO could not reject the explanation for the receipt of Rs. 1,30,000 without a valid reason after accepting the income from the sale of the plot. The judgment was pronounced on 4th December 2018. en-us Tue, 04 Dec 2018 00:00:00 +0530 Thu, 28 Feb 2019 07:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375955 The Tribunal allowed the appeal, deleting both additions of Rs. 5 lakhs as small gifts and Rs. 1,30,000 from the sale of a plot of land. The genuineness of the gifts was proven by the assessee, leading to the deletion of the first addition. The Tribunal held that the AO could not reject the explanation for the receipt of Rs. 1,30,000 without a valid reason after accepting the income from the sale of the plot. The judgment was pronounced on 4th December 2018. Case-Laws Income Tax Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375955