https://www.taxtmi.com/caselaws?id=399900 The ITAT overturned the CIT(A)'s decision to add an unexplained deposit to the assessee's income. The ITAT accepted additional evidence showing the deposit was a gift from the daughter, transferred through legitimate banking channels. The ITAT found the CIT(A)'s assumption that a father wouldn't accept a gift from his daughter unjustified. Consequently, the ITAT ruled in favor of the assessee, deleting the disputed additions to the income. en-us Mon, 10 Aug 2020 00:00:00 +0530 Thu, 22 Oct 2020 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399900 The ITAT overturned the CIT(A)'s decision to add an unexplained deposit to the assessee's income. The ITAT accepted additional evidence showing the deposit was a gift from the daughter, transferred through legitimate banking channels. The ITAT found the CIT(A)'s assumption that a father wouldn't accept a gift from his daughter unjustified. Consequently, the ITAT ruled in favor of the assessee, deleting the disputed additions to the income. Case-Laws Income Tax Mon, 10 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399900