Addition justified if creditworthiness of donors giving gift not proved

HIGH COURT OF MADRAS Mrs. Kumari Kanagam versus Commissioner of Income-tax,  TAX CASE (APPEAL) NO. 128 OF 2006† AUGUST 22, 2012 JUDGMENT Mrs. Chitra Venkataraman, J. The assessee is on appeal as against the order of the Income Tax Appellate Tribunal raising the following questions of law in respect of the block assessment period 1986-87 to 1996-97 (upto 19.1.1996) :- “1. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right in law in holding that the sum of Rs. 78 lakhs advanced to P. Maniammal of Maniammal Textiles Pvt...