9911796707
TMI Blog2013 (10) TMI 197X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to tax there. The donor, in fact, contended that not only his income tax return, but, all such returns are regularly scrutinized by the authority in USA. The gift was received through bank transaction genuineness thereof was thus suitably established - Decided against Revenue. - TAX APPEAL NO. 817,821 of 2012 - - - Dated:- 28-2-2013 - AKIL KURESHI and SONIA GOKANI , JJ. For the Appellant : Mrs. Mauna M. Bhatt. ORDER:- PER : Akil Kureshi Revenue is in appeal against the judgement of the Income Tax Appellate Tribunal dated 30.04.2012. For the purpose of this order, we may notice facts as arising in Tax Appeal No. 817 of 2012. In such appeal, the Tribunal has framed following questions for our consideration: "[A] W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition tot he said income earned in India, the son is subjected to tax in USA. An information about a tax debt with the Florida Department of Revenue and therefore a Notice for collection by AMO Recoveries is placed on record. In respect of the source of funds, it was claimed that the assessee has sold a Convenient Store, therefore stated to be in possession of sufficient funds. Even Ld. CIT(A) has noted that the impugned amount was received by a cheque No. 858287 of NRE Account No. 10372 with Punjab National Bank. On account of these facts and the corroborative evidences, we hereby hold that such issue was dealt with by the Hon'ble Gujarat High Court in the case of Murlidhar Lahorimal (supra), wherein it was opined that the donor having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hold that the ld. CIT(A) has rightly deleted the addition, hence this ground of the Revenue is hereby dismissed." 3. Having heard learned counsel for the revenue, we are of the view that the issue is based on appreciation of facts. Commissioner (Appeals) as well as the Tribunal concurrently found that the factum of gift was established. The genuineness of transaction was also proved on record; even creditworthiness of the donor was not possible to doubt. In fact, the gift was received by the assessee from his own son, who was residing in USA. Assessing Officer's stand, that the donor had earned income of only Rs. 40,690/- during the assessment year 1998-99, was rebutted by pointing out that such return was filed for interest income earned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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