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2012 (5) TMI 420 - HC - Income TaxAddition U/S 69 - genuineness of gift - collusive transaction - Held that:- the appellants failed to discharge the primary onus and failed to establish the genuineness of the transaction and the creditworthiness of the donor to make the gift and the surrounding circumstances have rightly been noted by the Tribunal as well as the revenue authorities in reaching to the conclusion that the transaction of gift was not a genuine transaction. - Decided against the assessee
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