2010 (7) TMI 36

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... onors along with the assessee were recorded. In fact, the tribunal in the impugned order has concluded on facts that the identity and creditworthiness of the donors was proved beyond doubt. - as gifts were made by way of registered gift deeds as well as payments were made by way of account payee cheques and both the donors are income tax assesses, it cannot be said that the gifts are not genuine

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... T erroneously deleted the addition of ₹ 60,00,000/- made by the Assessing Officer on account of unexplained gifts received by the assessee during the relevant accounting period. She further submitted that ITAT had not appreciated all the surroundings circumstances as the gifts did not meet test of human probabilities. 3. However, we find that not only was the genuineness of the two gifts es .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X