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TMI Blog2012 (9) TMI 959X X X X Extracts X X X X X X X X Extracts X X X X ..... O. 80 OF 2010 - - - Dated:- 7-9-2012 - ARUN MISHRA, CJ. AND NARENDRA KUMAR JAIN-I, J. For the Petitioner : R.B. Mathur For the Respondent : Naresh Gupta JUDGMENT Narendra Kumar Jain-I, J. Heard learned counsel for the parties. 2. The Revenue has preferred this Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 challenging the order dated 30th September, 2009 of Income Tax Appellate Tribunal, Jaipur Bench 'B', Jaipur, whereby Tribunal, while, dismissing the appeal of the Revenue affirmed the order of Commissioner of Income Tax (Appeals) deleting the addition of ₹ 30 Lacs made by the Assessing Officer, on account of unexplained gifts. 3. Briefly stated, the facts of the case a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by Shri Mathur, learned counsel for the appellant. 6. Learned counsel for the respondent/assessee supported the order passed by the Tribunal as well as Commissioner of Income Tax (Appeals) and submitted that identity, creditworthiness of the donor and genuineness of the gifts duly proved by Assessee are questions of facts and both the authorities below have recorded a concurrent finding of facts, which cannot be and should not be intereferred by this Court. He submitted that no substantial question of law is involved in this second appeal. Therefore, it is liable to be dismissed. 7. We have considered the submissions of learned counsel for the parties and examined the reasons assigned by Commissioner of Income Tax (Appeals) as well ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer. 9. The finding of the Commissioner as appellate authority was quoted by Tribunal in its order impugned in this appeal. Learned Tribunal after considering the factual and legal aspects of the matter affirmed the finding of the Commissioner of Income Tax (Appeals) and dismissed the appeal filed by the Revenue. Para 5 of the order of the Tribunal is reproduced as under:- 5. The first appellate order on the issue is reasoned one to which we concur with in view of the decisions of Hon'ble Jurisdictional High Court in the case of CIT v. Padam Singh Chauhan 215 CTR 303 (Raj.) and in the case of Nek Kumar v. ACIT 274 ITR 575 (Raj.) Ors. In the case of CIT v. Padam Singh Chauhan (supra) the Hon'ble Jurisdictional High Court ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax (Appeals) as well as Tribunal both were satisfied with regard to identify and creditworthiness of the donors and genuineness of the gifts. Learned Tribunal also satisfied that there is no room to doubt about love and affection of the donors with the assessee as donors were brothers of the assessee. Therefore, gifts could have been given without any occasion and only for the love and affection with the assessee. 11. After considering the reasons assigned by the Commissioner of Income Tax (Appeals) as well as Tribunal for deleting the amount of gifts, which was wrongly added by the Assessing Officer. We are satisfied that the reasons assigned by Tribunal as well as Commissioner of Income Tax (Appeals) are absolut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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