Gift from aunt shown as credits to capital account cannot be added as unexplained credits

Amit Prabhudas Patel Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad held that addition as unexplained credits to capital account unsustainable as gift from assessee’s aunt shown as credits to capital account.

Facts- The assessee is a practicing Doctor and proprietor of Sarvoday Hospital, Balasinor and also the proprietor of Sarvoday Pharmacy-Medical Store. He has filed his return of income on 06.11.2014 for the year under consideration declaring total income at 93,27,510/-. The

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