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TMI Blog2013 (1) TMI 573X X X X Extracts X X X X X X X X Extracts X X X X ..... the donee or not. Further, notice u/s 133(6) was sent and no reply was filed. It was the obligation and duty of the appellant to give the address or to produce the donor because the appellant was claiming that she had received the amount of Rs. 5 lakhs as gift, which is not liable to tax. She having failed to discharge the burden, the authorities have rightly treated it as income - against assessee. - INCOME TAX APPEAL No. - 205 of 2011 - - - Dated:- 17-1-2013 - R.K. AGRAWAL AND RAM SURAT RAM (MAURYA), JJ. Petitioner Counsel: - Vishwjeet,N.R. Kumar Respondent Counsel: - C.S.C. (Income Tax Dept.) The present appeal has been filed under Section 260 (A) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e appeal relates to the Assessment Year 2001-02. The appellant is an individual. A notice u/s 148 of the Act was issued on 26.12.2008 on the ground that an information has been received that the appellant has taken loan from one M/s. Amit Agarwal and Company to the tune of Rs. 22 lakhs and in the search conducted on Ganga Ram Agarwal group of cases, it was found that the above parties provided cheque in lieu of cash receipts from the persons (debtors) who wanted to have entries of loans in their books of accounts. M/s. Amit Agarwal and Company was connected with Ganga Ram Agarwal group of cases. On this information, proceedings u/s 147 was initiated. In response to the notice issued, the appellant submitted that the return filed for the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Revenue. Sri Vishwajeet, learned counsel, submitted that the proceedings u/s 147 had wrongly been initiated as there was no relevant material to form a reasonable belief that the income has escaped assessment. The submission is wholly misconceived. Specific information was received that the loans/credit entries given by Ganga Ram Agarwal Group of Companies who were indulging in giving bogus entries and therefore, in our considered opinion, the assessment has rightly been reopened as it is based on relevant materials and information. So far as the factum of gift is concerned, we have perused the gift deed. In the gift deed, even though the donor and donee belonged to the same religion, but the relationship has not been mentioned. It ..... X X X X Extracts X X X X X X X X Extracts X X X X
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