https://www.taxtmi.com/caselaws?id=400543 The Tribunal allowed the appeal, deleting the addition of Rs. 10 lakhs representing gifts received by the assessee from parents. The Tribunal found discrepancies in the assessment order, concluding that the gifts were actually withdrawals made by the assessee's parents from the partnership firm. The documented evidence of withdrawals and deposits supported this finding, leading to the deletion of the addition and a favorable outcome for the assessee. en-us Mon, 15 Jun 2020 00:00:00 +0530 Mon, 09 Nov 2020 19:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400543 The Tribunal allowed the appeal, deleting the addition of Rs. 10 lakhs representing gifts received by the assessee from parents. The Tribunal found discrepancies in the assessment order, concluding that the gifts were actually withdrawals made by the assessee's parents from the partnership firm. The documented evidence of withdrawals and deposits supported this finding, leading to the deletion of the addition and a favorable outcome for the assessee. Case-Laws Income Tax Mon, 15 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400543