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2012 (7) TMI 247 - AT - Income TaxAddition u/s 68 - gift received from NRI friend - revenue contending assessee has not proved any evidence regarding creditworthiness and no occasion has also been mentioned for making gift - Held that:- It is clear that the identity of the donor has been proved by filing identification card from Florida authorities and the notarised declaration. The donor has mentioned that he is engaged in service. The amount of US$ 3600 is not such a big amount that a serving person in USA cannot give it as a gift. Therefore, the creditworthiness of the donor has been proved. Since donor and donee have close relationship and, thus, it cannot be said that it is a gift to a total stranger so that it defies human probabilities of conduct. The gift has been made through banking channel, thus, its genuineness has also been proved. Hence, all the three ingredients of section 68/69 have been proved on a prima facie basis. Consequently it is held that the gift is genuine - Decided in favor of assessee.
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