9911796707
TMI Blog2012 (9) TMI 959X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax (Appeals) deleting the addition of Rs. 30 Lacs made by the Assessing Officer, on account of unexplained gifts. 3. Briefly stated, the facts of the case are that the Assessing Officer vide its Assessment Order dated 10th November, 2008 relating to Assessment Year 2006-07 disallowed the three gifts received by Assessee from his brothers amounting to Rs. 30 Lacs on the ground that the Assessee has not proved the creditworthiness of the gifts and the same have been given on account of love and affection and further that there was no occasion for giving the gifts. Consequently, Assessing Officer added the said amount of gifts as income and levied the income tax on the same. 4. Being aggrieved with the order of Assessment, the Assessee pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the submissions of learned counsel for the parties and examined the reasons assigned by Commissioner of Income Tax (Appeals) as well as Tribunal, for deleting the amount of Rs. 30 Lacs towards so called unexplained gifts, added by Assessing Officer. 8. The Commissioner of Income Tax (Appeals) has considered all factual as well as legal aspects of the case in detail and has observed that so far as creditworthiness of the donors is concerned, the Assessee had gone to file evidence before the Assessing Officer on 11.11.2008, the date fixed for the same by him, but the Assessing Officer refused to accept the same. Therefore, Assessee sent the relevant documents such as copy of Bank Accounts, return of income and other relevant documents of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . ACIT 274 ITR 575 (Raj.) & Ors. In the case of CIT v. Padam Singh Chauhan (supra) the Hon'ble Jurisdictional High Court has been pleased to hold that there is no legal basis to assume that to recognize the gift to be genuine, there should be any blood relationship or any close relationship, between the donor and the donee. Instances are not rare, when strangers made gift, out of very many considerations, including arising out of love, affection and sentiments. When the assessee has produced the copies of the fit deeds and the affidavits of the donors, in the absence of anything to show that the act of assessee in claiming fit was an act by way of money laundering, simply because he happens to receive fits, it cannot be said that, that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cer. We are satisfied that the reasons assigned by Tribunal as well as Commissioner of Income Tax (Appeals) are absolutely justified and legal and no interference in the same is called for. Learned Tribunal has also relied upon judgments of this Court reported in CIT v. Padam Singh Chouhan [2008] 215 CTR 303 (Raj.) and in the case of Nek Kumar v. Asstt. CIT [2005] 274 ITR 575/[2004] 141 Taxman 313 (Raj.). 12. This Court in CIT v. Ram Dev Kumar Chitlangia [2009] 315 ITR 435 held that, whether the gift was genuine would essentially be a question of fact and finding of act recorded in this behalf cannot be interferred with. 13. After considering submissions of learned counsel for the parties, we are of the view that genuineness of the gifts ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
