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TMI Blog2016 (11) TMI 1181X X X X Extracts X X X X X X X X Extracts X X X X ..... to this assessee at the same time in the absence of any blood relationship or even remote relationship why the gift was at all made, no satisfactory explanation came forward - Decided against assessee - D.B. Income Tax Appeal No. 160/2016 - - - Dated:- 29-8-2016 - K. S. Jhaveri And Ajay Rastogi, JJ. For the Appellant : Purvi Mathur ORDER Office has pointed out that there is a del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee on 13/8/2010. After the notices u/s 143(2) 142(1) were served on assessee on 13/8/2010. During the course of inquiry, it revealed that assessee is in the list of beneficiaries, who had received gift of 5.00 lacs in assessment year 2003-04 from Shri Ramnik on 25/1/2003 and accordingly, notice u/s 147/148 were issued to the assessee. In compliance thereof, he submitted his objectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he return filed by Ramnik Agarwal, which shows that the above person was not having capacity to give above gift as the total income of the donor for assessment year 2002-03 was only ₹ 1.13 lacs while he has claimed to have given the gift of ₹ 5.00 lacs. Accordingly, upon final hearing by the Assessing Officer the gift was taken by the assessee from Shri Ramnik could not be held to be g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to whether there was any occasion or celebration due to which the gift was given to the assessee from the donor in the past or in further the donor had given any such gift to this assessee at the same time in the absence of any blood relationship or even remote relationship why the gift was at all made, no satisfactory explanation came forward and relying on the judgment of the Hon'ble Ape ..... X X X X Extracts X X X X X X X X Extracts X X X X
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