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In the matter before the High Court in ( 2021] 433 ITR 57 (Tripura) it was found that
in the balance-sheet the assessee had reflected a sum of Rs. 16,00,000 by way of gift received from relatives but neither did he produce any evidence such as a confirmation from donors or a gift deed before AO/CIT(A) for which reason he suffered an addition of such sum as unexplainedinvestment u/s 69.
So one must keep evidence of gifts even if they are exempted in nature to avoid any addition at the time of going for a scrutinyassessment.

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