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2014 (7) TMI 1222 - ITAT KOLKATAAddition on gift received - Held that:- Four of the donors appeared before the Assessing Officer in the remand proceedings and confirmed that they had given the gifts and some of the gifts were by cheque. Further a perusal of the assessment order as also that of the ld. CIT(Appeals) shows that the donors are all income-tax assessees and they have all filed their returns and have accepted giving gifts to the assessee. Admittedly the assessee has proved the identity of the donors as has been accepted by the Assessing Officer in his assessment order. The Assessing Officer is only doubting the creditworthiness of the donors and the genuineness of the gifts. The donors themselves having confirmed that they have given the gifts and having shown that they are income-tax assessees and having filed their returns of income clearly show their creditworthy. Thus we are of the view that the addition as made by the Assessing Officer and confirmed by the ld. CIT(Appeals) representing the gifts received by the assessee is liable to be deleted and we do so. - Decided in favour of assessee Addition on low drawings - Held that:- As noticed that the assessee is 71 years old person. He is staying with his son. No expenditure has been found in the hands of the assessee, which has remained unexplained. This being so, no ad hoc disallowance under the head “drawings” can be made in the hands of the assessee. In these circumstances, the addition as made by the Assessing Officer and as reduced by the ld. CIT(Appeals) on account of drawings stands deleted.- Decided in favour of assessee
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