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TMI Blog1987 (4) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Smt. Shiromani Devi W/o Sh. Sukhbir Prasad Jain of Jagadhari Rs. 50,000 by Draft of Oriental Bank of Commerce, dt.7-4-1975 Rs. 25,000 dt.30-6-1975 2. Shri Sukhbir Prasad Jain Nil Rs. 25,000 dt.30-6-1975 3. Shri Vidyasagar Jain S/o Sh. Kulwant Rai Jain ofSaharanpur Rs. 25,000 by cheque dt.14-3-74on Punjab National Bank, Civil Lines,Saharanpur. Nil 4. Shri Chaman Prakash ofSaharanpur. Rs. 25,000 by cheque dt.21-3-1974on The Union Bank ofIndia,Saharanpur. The assessee filed confirmations from the aforesaid parties, as also copies of the gift-tax assessment orders in the cases of Smt. Shiromani Devi and Shri Vidyasagar Jain. The IT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Raj) 180 : (1981) 127 ITR 308 (Raj) (v) Sona Electric Co. vs. CIT (1984) 43 CTR (Del) 287 : (1985) 152 ITR 507 (Del). On the other hand the ld. Departmental Representative placed strong reliance on the orders of the IT authorities. 4A. We have heard the ld. representatives on both the sides in these appeals and have also considered the decisions cited on their behalf. Smt. Shiromani Devi filed an affidavit confirming the gift. According to her, the amount of Rs. 50,000 was gifted after withdrawing the same from her husband Shri Sukhbir Prasad Jain. The said gift was taxed in her gift-tax assessment for the asst. yr. 1974-75. The ITO addressed a letter dt.11th March, 1980to Smt. Shiromani Devi to produce all the records regarding t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was a partner in the firm of M/s Kewalram Uggar Sain who carried on business in the name and style of M/s Swastika Metal Industries. On the dissolution of the said firm, Shri Sukhbir Prasad Jain is said to have received Rs. 2,50,000 on19th Jan., 1967. Thereafter he carried on his own independent business in the name and style of M/s Globe Metal Industries which was closed down. He is also said to have started a small unit under the name and style of Unesco Metal Industries, the income from which did not exceed Rs. 1,000 per month. He died on8th Dec., 1979. He opened an account on7th April, 1972with Rs. 100. He withdrew Rs. 50 and Rs. 20 on10th April, 1972and11th April, 1972respectively and on24th April, 1972he deposited Rs. 54,000 in cash. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... get the cheque passed as he had already obtained the cheque, Shri Vidyasagar Jain denied the suggestion and stated that it was his own money. A copy of account of M/s Mayur Machinery Mart,Railway Road,Saharanpur, had been filed by him as also a certificate from Laxmi Financiers,Ambala Road,Saharanpur. On the basis of these evidence, so far as Shri Vidyasagar Jain is concerned, the gift in question stood established. Therefore, the apparent had to be taken as the real in the absence of any material to the contrary. 6. Lastly comes the case of Shri Chaman Prakash. He gave a gift deed and was also examined. He stated that he knew the assessee for 20-25 years. He had been deriving income from agriculture and money-lending. He was the Managin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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