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2008 (5) TMI 277 - HC - Income TaxGenuineness of NRI Gift - assessee failed to prove the capacity of the donor who is stranger as gift was not made on any social occasion – held that - , the question as whether it is established on record that the gift given is genuine would essentially be a question of fact - , identity of all the donors is not in dispute, the transactions have been channelised through bank and four of the gifts are by the blood relations, apart from the fact, that blood relationship is not necessary. There is no tangible material collected by the Assessing Officer to show anything, which may cast any doubt on the genuineness of the gift or to establish that the purported transactions of gift were otherwise transactions of money laundering, or the like - , since the authorities below, i.e., the learned Commissioner and the learned Tribunal, have examined the matter on correct parameters and have arrived at a conclusion in favour of the assessee, in our view, the findings do not require any interference – decided in favor of assessee
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