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2015 (9) TMI 1117 - HC - Income TaxTreating the gift as unexplained income - whether Tribunal is justified in upholding the addition of ₹ 1,75,000/- received as gift by the appellant from his sister especially considering the fact that an amount of ₹ 5,00,000/- also received as gift from the same sister was allowed to be deducted by accepting the same Income Tax Return and bank Statement? - Held that:- A perusal of the order passed by the Tribunal shows that no cogent and convincing reasons have been given by the Tribunal for not accepting the additional evidence in the form of gift deed and confirming the addition of ₹ 1,75,000/-. Consequently, the matter is remanded back to the Tribunal for deciding it afresh in accordance with law after hearing learned counsel for the parties and taking into consideration the additional evidence produced by the assessee-appellant before the Tribunal.
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