https://www.taxtmi.com/caselaws?id=298525 The Tribunal allowed the appeals regarding the addition of unexplained gifts under Section 69A and Section 68 due to the absence of incriminating material found during the search. However, the appeals were dismissed where the assessee did not provide supporting evidence for their claims. The judgments underscored the significance of incriminating material in reassessment proceedings under Section 153A and the obligation for the assessee to establish the genuineness and creditworthiness of transactions. en-us Mon, 22 Dec 2014 00:00:00 +0530 Mon, 08 Nov 2021 21:11:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298525 The Tribunal allowed the appeals regarding the addition of unexplained gifts under Section 69A and Section 68 due to the absence of incriminating material found during the search. However, the appeals were dismissed where the assessee did not provide supporting evidence for their claims. The judgments underscored the significance of incriminating material in reassessment proceedings under Section 153A and the obligation for the assessee to establish the genuineness and creditworthiness of transactions. Case-Laws Income Tax Mon, 22 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298525