Addition U/s 68 justified on failure to substantiate gift with supportive evidences

Vicky Jethani Vs ITO (ITAT Jaipur) Assessee has claimed the gift of Rs. 8,00,000/- received from Smt. Poonaj Kanjani stated to be the Aunt of the assessee and non-resident Indian based at UAE. In support of the claim, the assessee has furnished the Bank Certificate of Bank of Baroda regarding the remittance of the amount from the bank account of Shri Raj Kumar of Hyderabad. However, the assessee has claimed this gift from Smt. Poonam Kanjani and not from Shri Raj Kumar of Hyderabad. The assessee further explained that since Shri Raj Kumar owed the money to Smt. Poonam Kanjani and, therefore, a...