Genuineness of gifts requires proof of donor identity and capacity, otherwise taxability follows under assessment rules. The High Court examined taxation of receipts treated as gifts, stressing that the assessee must prove the genuineness of gifts by establishing donor ... Summary
Genuineness of gifts requires proof of donor identity and capacity, otherwise taxability follows under assessment rules.
The High Court examined taxation of receipts treated as gifts, stressing that the assessee must prove the genuineness of gifts by establishing donor identity and the donors' capacity and creditworthiness; acceptance by lower authorities does not relieve the recipient of the burden of proof, and inadequate documentary corroboration justifies reassessment where donations are doubtful.
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TaxTMI 
TaxTMI 
