9911796707
TMI Blog2013 (11) TMI 121X X X X Extracts X X X X X X X X Extracts X X X X ..... 03. The grounds of appeal read as under : (i) That the lower authorities have erred in law and on facts in making addition of Rs. 2,00,000 under section 68 of the Income-tax Act, 1961 without any justification and material on record. (ii) That the lower authorities have erred in law in ignoring the documents filed by the appellant, while coming to the conclusion that the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Assessing Officer noted that the learned authorised representative could not prove the creditworthiness of the donor and his capacity to give a gift of Rs. 2 lakhs. The Assessing Officer proceeded to add Rs. 2 lakhs as unexplained cash credit under section 68 of the Income-tax Act. Upon the assessee's appeal, the learned Commissioner of Income-tax (Appeals) noted that that donor in this case is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal before me. I have heard the learned Departmental representative. None appeared on behalf of the assessee. However, in my considered opinion, the matter can be disposed of by perusing the records and hearing the learned Departmental representative. I find that the assessee in this case has received a gift of Rs. 2 lakhs from a person who is not related to the assessee. There is no occasion f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... where two donors had absolutely no connection with the assessee and they made gifts to the assessee only because he needed money to buy a house and they wanted to help him. It was held that this was not only quite unusual but also quite unnatural. It was incredible that a complete stranger would want to gift lakhs of rupees to a person only because that person wanted the amount for purchasing a h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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