2010 (8) TMI 133 - HC - Income Tax

Amount received by way of gift - appellant was not able to prove the credence and worthiness of the donor to give such amount - held that - the gift was not genuine - The appeal fails and is dismissed.

Summary

The Allahabad High Court dismissed the appeal regarding unexplained deposits found in the appellant's books. The appellant claimed the deposits were gifts, but authorities found the donor's credibility lacking. The Tribunal's factual finding was upheld, and no substantial legal question arose. The appeal was dismissed.