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TMI Blog2014 (3) TMI 1023X X X X Extracts X X X X X X X X Extracts X X X X ..... e is in the business of metal import and amount claimed to have been received as a gift has been remitted by M/s.Sun Metals Casting LLC, which is a company in metal trading in Sharjha (UAE). Therefore, this was the business relation with the husband and as a result of that the remittance came. In such circumstances, this would not be a case of genuine gift. It is in that context that all the three Authorities have concurrently found that the Appellant – assessee has failed to establish the essential ingredients of gift. They have not probed the gift or the aspect of natural love and affection as contended by the learned Counsel. While examining the details and scrutinising the necessary documents which have been given by the Assessee that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Delhi) and Commissioner of Income Tax Vs. Padam Singh Chouhan reported in (2009) 315 ITR 433 (Raj) respectively, have held that in such circumstances Section 68 of the Income Tax Act has applicability, this appeal deserves admission. 3. We are unable to agree. The Tribunal has found that while clarifying the issue before the Assessing Officer, the Appellant assessee answered that the alleged donor Shri.Sandip M.Sisodia is a friend of her father. However the Assessing Officer found that he had not met him since last several years, to be precise, for last 11 years and prior to the recording of the statement. The Assessee was ignorant about the basic details pertaining to Sandip Sisodia. There is contradiction in respect of mode of r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e said to be covered by the ratio laid down by Delhi High Court. In the Delhi High Court case viz. Commissioner of Income Tax Vs. R.S.Sibal (supra): '(a) during the course of assessment proceedings, the Assessing Officer noticed deposits in the assessee's bank account. They were required to be explained and particularly their sources. The assessee stated that those amounts were received by way of gift from two NRIs; and (b) the Assessee in support of the gifts has filed copies of the gift deeds, affidavits of the donors, extracts from their bank accounts and bank certificate with reconfirmation letters.' It is in these circumstances that the Delhi High Court held that the Assessing Officer was in error in holding that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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