https://www.taxtmi.com/caselaws?id=412243 The Tribunal set aside the Commissioner of Income Tax (Appeals) order adding an inherited amount to the assessee's income under sections 68 and 69A of the Income Tax Act. The Tribunal accepted the appellant's evidence, including a confirmation letter and legal precedents, as sufficient proof of inheritance from Late Shri M.F. Husain's estate. It emphasized the need to establish the donor's identity and transaction genuineness. The Tribunal held that the burden of proof was met, directing the Assessing Officer to delete the addition, ruling in favor of the appellant. en-us Thu, 02 Sep 2021 00:00:00 +0530 Tue, 14 Sep 2021 08:48:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412243 The Tribunal set aside the Commissioner of Income Tax (Appeals) order adding an inherited amount to the assessee's income under sections 68 and 69A of the Income Tax Act. The Tribunal accepted the appellant's evidence, including a confirmation letter and legal precedents, as sufficient proof of inheritance from Late Shri M.F. Husain's estate. It emphasized the need to establish the donor's identity and transaction genuineness. The Tribunal held that the burden of proof was met, directing the Assessing Officer to delete the addition, ruling in favor of the appellant. Case-Laws Income Tax Thu, 02 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412243