Dismissing the appeal of the assesse the Court held that ; Failure to produce evidence of credit worthiness and genuineness of gifts addition as unexplained deposits was held to be justified ( AY. 2001-02)
Pandit Vijay Kant Sharma v. CIT (2018) 402 ITR 358/ 169 DTR 108/304 CTR 1012 (All) (HC)
S. 68:Cash credits — Gift — Failure to produce evidence of credit worthiness and genuineness of gifts addition as unexplained deposits was held to be justified .