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TMI Blog2013 (12) TMI 198X X X X Extracts X X X X X X X X Extracts X X X X ..... rom his brother - In the absence of any compelling reason and materials to show as regards the genuineness of the gift - The addition was made u/s 68 - Decided against assessee. - Tax Case (Appeal) No. 513 of 2013 - - - Dated:- 26-11-2013 - Chitra Venkataraman And T. S. Sivagnanam,JJ. For the Appellant : Mr. P. B. Sampath Kumar For the Respondent : Mr. M. Swaminathan Standing Counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ght in demanding the proving of the credit worthiness of the donor notwithstanding the fact that such a donor is an assessee and the said gift is allowed in the assessment of the donor? 4. Whether on the facts and in the circumstances of the case the Assessing Officer is right in shifting the onus of proving the gift is genuine after the assessee has proved the existence of all the ingredients o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Representative was asked to prima facie prove the above gift, capacity of the donor who gave Rs.7,50,000/-, the genuineness of the transaction by producing statement of affairs, cash flow statement, return of income with computation of the said K.Shridhar. Evidently, the assessee could not produce the statement of cash flow to show that the gift was genuine one. It was further seen that the said ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atable to the business. Thus 50% of the above expenditure be held added back to the total income of the assessee. 3. Aggrieved by the same, the assessee went on appeal before the Commissioner of Income Tax (Appeals), who agreeing with the findings of the Assessing Officer dismissed the appeal. Aggrieved by this, the assessee went on further appeal before the Income Tax Appellate Tribunal, who fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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