Mere Affidavits Of Siblings Cannot Substantiate Family Property Settlement Claim; ITAT Grants Final Chance To Justify Deposits

In a case of family property settlement and inter-sibling monetary transfers, the ITAT held that mere affidavits of siblings are insufficient to justify claims; the taxpayer was granted a final chance to submit supporting evidence (documents, third-party corroboration). The article discusses evidentiary burden, family settlement jurisprudence, and latitude for taxpayers under appellate safeguards.