1986 (7) TMI 192

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..... lary and remuneration. He had shown withdrawal for household expenses and thus he had a very little of capital left with him. Shri Nenmal Jain was none else but a well known smuggler called Nainmal Poonjaji to whose son the gift had been made. The assessee wash a goldsmith by cast. Smt. Anjana, mother of the child to whom the gift was made was only self-styled sister of the assessee and not his re .....

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..... . The assessee had come up in second appeal before us. 2. We have heard the representatives of the parties at length in this appeal. The ITO has not really doubted the making of the gift. What he has stated is that the amount probably belonged to the noted smuggler Sri Nenmal Poonjaji and was gifted to his son through the assessee. Now if the amount really belonged to Sri Nenmal Poonjaji and the .....

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..... see's income unless, the amount belongs to the assessee. We have, therefore, deleted that interest. Simultaneously we hold that the assessee is liable to pay gift-tax on the amount of alleged gift subsequently. This order, however, should not be deemed to affect the assessment of Sri Nenmal Poonjaji where the ITO will be at liberty to his own decision in accordance with the facts and circumstances .....

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