Failure to Prove Genuineness of Cash Gift of Rs. 42 Lakhs: SC Upholds Income Tax Addition [Read Order]

The Supreme Court upheld the order set aside the deletion of Income Tax on Failure to Prove Genuineness

By Yogitha S. Yogesh - On February 5, 2024 1:13 pm - 2 mins read

Failure - Prove Genuineness - Cash Gift - SC - Income Tax - taxscan

The Supreme Court of India upheld the order of the Allahabad High Court (HC) by which the set aside the deletion of the Income Tax Addition. The HC upheld the addition of Rs.42 Lakhs cash received as a Gift under the Income Tax Act as the assessee failed to Prove Genuineness. Virendra Behari Aggarwal (dead),…

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