Cash Gift from Father Taxable on failure to prove creditworthiness

Praveen Kumar Chauhan Vs ITO (ITAT Delhi)

Revenue submitted that the assessee failed to explain the source of cash deposits. The only contention of the assessee before the authorities below was that the amount was received as a gift from his father. He submitted that the assessee has merely filed an affidavit. However, creditworthiness of the donor could not be proved by the assessee by furnishing the requisite evidences. Therefore, the authorities below were justified in confirming the addition.

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