https://www.taxtmi.com/caselaws?id=752300 The HC dismissed the appeal filed by the assessee under s. 260A of the Income-Tax Act, 1961, challenging the addition under s. 68 regarding the genuineness of gifts received. The Tribunal had confirmed the addition, citing lack of pre-existing relationships and circumstances supporting the gifts. The Court upheld the Tribunal's findings, applying the preponderance of probability standard, and concluded that the transactions were not genuine. The appeal was dismissed as meritless, with no substantial question of law raised, and without costs. en-us Thu, 02 May 2024 00:00:00 +0530 Tue, 07 May 2024 07:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752300 The HC dismissed the appeal filed by the assessee under s. 260A of the Income-Tax Act, 1961, challenging the addition under s. 68 regarding the genuineness of gifts received. The Tribunal had confirmed the addition, citing lack of pre-existing relationships and circumstances supporting the gifts. The Court upheld the Tribunal's findings, applying the preponderance of probability standard, and concluded that the transactions were not genuine. The appeal was dismissed as meritless, with no substantial question of law raised, and without costs. Case-Laws Income Tax Thu, 02 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752300