Scrutinizing the Genuineness of Gifts in Income Tax Law: Taxability of Gift u/s 68

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....al and the Commissioner of Income Tax. Central to the dispute are two gifts totaling a significant sum, allegedly received by the individual from non-resident external (NRE) accounts. The tax authorities challenged the genuineness of these gifts, questioning the identity, creditworthiness, and capacity of the donors to make such gifts. Initially, the Assessing Officer, unsatisfied with the eviden....