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2013 (12) TMI 198 - MADRAS HIGH COURTGift from brother - Creditworthiness and genuineness of donor - Held that:- The assessee could not produce the statement of cash flow to show that the gift was genuine one - The assessee had not placed any material before the Authority to substantiate the receipt of Rs.7,50,000/- as gift from his brother - In the absence of any compelling reason and materials to show as regards the genuineness of the gift - The addition was made u/s 68 - Decided against assessee.
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