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TMI Blog2010 (8) TMI 532X X X X Extracts X X X X X X X X Extracts X X X X ..... in law in not accepting the genuineness of the gift without examining and appreciating the evidence in support of the same on the ground that documents submitted were not in its opinion properly executed and/or duly certified? 3. The filing of paper book is dispensed with. With the consent of the learned counsel for the parties, we have heard the matter finally. 4. The appellant had received a g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. The appellant thereafter preferred an appeal before the Income-tax Appellate Tribunal, which has also been rejected by the Tribunal. Against the order of the Tribunal dated 31-7-2007, the present appeal is preferred raising the aforesaid question of law. 6. The following facts are not in dispute:- 1. The identify of Mrs. Madan Mohini Jain stands established as per the findi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... da. Copy of the computer generated statement was also not considered, observing that the name of the account holder and the account number had been written in handwriting and it is not clear as to who had certified the same. On this basis, the Tribunal though accepted the identity of Mrs. Madan Mohini Jain and her relationship with the appellant, held that the appellant could not prove the capacit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recently taken retirement; she owns residential property and was having an investment in real estate generating rental income of over US$ 2400.00 per month; she also maintains investments in stocks and bonds and in long term bank deposits. If these averments made in the affidavit are correct and the transaction in question is supported by the bank statement as mentioned above, there cannot be any ..... X X X X Extracts X X X X X X X X Extracts X X X X
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