https://www.taxtmi.com/caselaws?id=787637 Where an assessee relies on large cash gifts to explain a negative cash balance, the claim must be supported by credible proof identifying donors and demonstrating donors' sources and creditworthiness; self signed receipts and unspecified claims of gifts are insufficient. Absent reliable independent evidence of the donor's lawful capacity to make the gift and consistency in the assessee's account of the source, tax authorities may treat the unexplained cash deficit as income from unexplained sources. The document affirms that failure to establish donor identity and source justifies such assessment against the assessee. en-us Fri, 06 Mar 2026 00:00:00 +0530 Tue, 10 Mar 2026 08:51:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787637 Where an assessee relies on large cash gifts to explain a negative cash balance, the claim must be supported by credible proof identifying donors and demonstrating donors' sources and creditworthiness; self signed receipts and unspecified claims of gifts are insufficient. Absent reliable independent evidence of the donor's lawful capacity to make the gift and consistency in the assessee's account of the source, tax authorities may treat the unexplained cash deficit as income from unexplained sources. The document affirms that failure to establish donor identity and source justifies such assessment against the assessee. Case-Laws Income Tax Fri, 06 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787637