9911796707
TMI Blog2015 (10) TMI 1400X X X X Extracts X X X X X X X X Extracts X X X X ..... Bench, Kolkata, dated 07.5.2008. 2) For that the Ld. C.I.T.(A), Durgapur, in consideration of the facts and circumstances of the matter, erred in confirming the order passed by the Ld. Assessing Officer. 3) For that the appellant reserves his right to add to, to alter, to amend the ground/s and to adduce paper/s and document/s at the time of hearing." 3. In this case the matter pertains to addition of 7 lakh as unexplained cash credit. The matter was adjudicated by the Tribunal earlier in ITA No.435/Kol/2008 vide order dated 07-05-2008. The Tribunal in the aforesaid order had restored the matter back to the file of Assessing Officer for re-adjudication of afresh in accordance with law, after considering all the material evidences includi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ank from where Draft was purchased 1 Mahabir Pd. Sharma 2,00,000/- Draft 02.05.03 Draft No. 433170 Punjab national Bank Lenin Sarani Branch Kolkata-13 2 Vivek Chaudhary 2,00,000/- Draft 08.04.-3 Draft No.239325 Indian Bank Burra Bazar Branch Kolkata - 7 3 Snil Kr. Jain 1,00,000/- Draft 09.04.03 Draft No.240791 Punjab National Bank B.R.B.B. Road Branch Kolkata-1 4 Manoj Kr. Khandelwal 2,00,000/- Draft 11.04.03 Draft No.239359 Punjab National Bank B.R.B.B. Road Branch Kolkata-1 Now we note that assessee has filed confirmation of the gifts. The donors have filed return of income. Now adverse inference has been drawn by the Revenue on the ground that the return of income is very low. We further note that with re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... small savings. On the facts of this case, we find that the small amount of savings as claimed by the donors cannot be rejected. In these circumstances when the confirmations is there, identity is established and return of income is also on record and no adverse features have been noticed in their bank account, the small amount given by them as gift to the assessee cannot be added in the hands of the assessee. Accordingly, except for the gift from Shri Mahabir Pd. Sharma, which we have conformed as above, the gifts from other three person added by the AO as unexplained cash credit in the hands of the assessee is deleted.
9. In the result, appeal filed by the assessee is partly allowed.
Order pronounced in open court on 15.1.2015. X X X X Extracts X X X X X X X X Extracts X X X X
|
