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TMI Blog2025 (3) TMI 460X X X X Extracts X X X X X X X X Extracts X X X X ..... e father, including a substantial amount received through cheque HELD THAT:- As the father has gifted the assessee Rs.5 lac by way of cheque and rest amount by cash at different intervals such cash gift was questioned by Revenue which is not found to be acceptable as the desire of a father how he would support his son either gifting him lump sum amount or at intervals is his prerogative and canno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 2016-17. None for the assessee at the time of call. 2. The Ld. AO finalized the assessment upon making addition of Rs.10,00,500/- on account of unexplained cash deposit. In appeal addition was restricted to Rs.6,90,000/-. As per CIT(A) the assessee failed to justify the source of such cash deposits made by him. 3. On the contrary, the assessee deposited the cash in his bank account out of his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the father to the assessee of Rs.5 lacs through cheque dated 02.02.2016 and therefore, the explanation rendered by the assessee was found to be not justifiable. 4. Heard the parties and perused the records. Under this present facts and circumstances of the matter, it is found that as the father has gifted the assessee Rs.5 lac by way of cheque and rest amount by cash at different intervals such c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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