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2010 (6) TMI 556 - ITAT, JABALPURAddition - Bogus gift - The return of income was accompanied by gift deeds by each of the above said 12 persons - All the donors have admitted by way of affidavit and also some are ready to state on solemn affirmation before the AO that they have made such gifts as stated by the assessee in his return - The burden is on the assessee to rebut the same and if he fails to rebut it, it can be held against the assessee that it was receipt of an income nature - In the instant case, efforts were made by the AO to enquire into the source of funds in the hands of donors and their capacity to give such amount as claimed by the assessee - There is no evidence that there was any business transaction between the donors and the assessee and therefore, it could not be believed that how a stranger would part away his savings to give gifts to any unknown person sacrificing his chances of bettering his/her living conditions with that money - Decided against the assessee
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