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2012 (7) TMI 129 - ITAT, AGRAAddition warranted u/s 68 - assessee contested that the identity and financial capacity of the donor and genuineness of the transaction which is through banking channel - Held that:- In case of gift from Smt. Neelam Kumari, though in the photocopy of gift deed it was mentioned that gift was given by donor out of natural love & affection, however, appellant failed to furnish evidence showing that the donor was related to him by way of relationship or friendship. In spite of sufficient opportunity, the assessee failed to produce the L/h of Smt. Neelam Kumari. Even the complete address of L/h was not furnished - survey at the office premises of Shri D K Agarwal, CA, reveled that as many as 292 trusts are being operated from the aforesaid address with no actual business being conducted. This clearly indicate that Narmada Benefit Trust was created with the sole intention of defrauding the revenue by providing fictitious entries in respect of gift etc. There are unexplained cash deposits in the bank account of aforesaid trust, in such circumstances gift advanced by Smt. Neelam Kumari cannot be held as genuine gift. In the case of Ratan Singh from whom gift of Rs.2 lacks received though his L/h has confirmed the facts, however, copy of bank accounts was not produced. During the concerned year, the total income of Ratan Singh was only Rs.1,49,750 and from the copy of his capital account produced by L/h it appears that Late Shri Ratan Singh has given gift of Rs.5,10,000. Appellant failed to produce bank statement or books of account of late Shri Ratan Singh, in such circumstances creditworthiness of Ratan Singh remained unproved. A person having measure income of Rs.1,49,750 cannot have sufficient fund to give gift to the tune of Rs.5,10,000 - Decided against assessee. Additional ground challenging jurisdiction u/s 147 as the reasons recorded with regard to escapement of income are not specific but are general in nature - Held that:- As the assessee did not point out any mistake in the original order, in the light of section 254(2) which provides power to ITAT to amend the order with a view to rectifying any mistake apparent from the record, passed by it under sub-section (1), no reason exists so as to disturb the original finding of the I.T.A.T. that neither any mistake in this regard has been pointed out by the assessee at the time of hearing nor such mistake has been pointed in M.A. order by the Tribunal - against assessee.
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