https://www.taxtmi.com/caselaws?id=467302 Assessee's inconsistent contemporaneous records and late alteration of date-and-donor for a large cash receipt, coupled with absence of independent corroboration (donor/firm non-filing and unreliable capital account), led ITAT Hyderabad to treat the claimed gift as unestablished and uphold the assessing officer's conclusion that the amount is an unexplained cash credit. Separately, the Tribunal held that deletion of a cash-deficit addition was unsustainable because the CIT(A)'s deletion rested on the discredited revised gift claim; the cash-deficit addition was restored for lack of credible evidence of sufficient cash on the relevant date. en-us Fri, 16 May 2025 00:00:00 +0530 Fri, 13 Mar 2026 18:58:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467302 Assessee's inconsistent contemporaneous records and late alteration of date-and-donor for a large cash receipt, coupled with absence of independent corroboration (donor/firm non-filing and unreliable capital account), led ITAT Hyderabad to treat the claimed gift as unestablished and uphold the assessing officer's conclusion that the amount is an unexplained cash credit. Separately, the Tribunal held that deletion of a cash-deficit addition was unsustainable because the CIT(A)'s deletion rested on the discredited revised gift claim; the cash-deficit addition was restored for lack of credible evidence of sufficient cash on the relevant date. Case-Laws Income Tax Fri, 16 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467302