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2017 (11) TMI 1610 - HC - Income TaxAddition u/s 68 - failure to discharge the burden of explaining the gift - Held that:- Referring to Assessing authority as well as the impugned order of the Tribunal and we find that there is no illegality in coming to the conclusion that the present case is fully covered within the parameter of Section 68 of the Act. The assessee has failed in establishing the creditworthiness of the donors, occasion for making the gifts and why and donors who were strangers and not men of means gifted such huge amounts to the assessee HUF out of love and affection. - Decided against assessee.
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