TMI Blog2008 (5) TMI 277X X X X Extracts X X X X X X X X Extracts X X X X ..... f 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 - 57 of 2006 - - - Dated:- 16-5-2008 - N. P. GUPTA and KISHAN SWAROOP CHAUDHARI JJ. K. K. Bissa for the appellant. Sanjeev Johari for the respondent. JUDGMENT The judgment of the court was delivered by N. P. GUPTA J. - This appeal by the Revenue is against the judgment of the learned Tribunal dated January 9, 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Assessing Officer made addition with respect to these gifts, finding them to be not genuine and added as income from undisclosed sources. 3. The matter was carried in appeal before the learned Commissioner and the learned Commissioner allowed the appeal. Regarding the gift of Rs. 1,51,000, it was found that during the course of assessment proceedings, the Assessing Officer required production of the donor Ravi Kumar, the assessee provided complete particulars and postal address of the donor and requested the Assessing Officer to make direct verification by post or otherwise at the cost of the assessee, the Assessing Officer also mentioned about the fax message received from the donor confirming the gift. In such circumstances, it wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s found true that no deposits were made in the NRE account, except realisation from foreign country, i.e., and that only foreign exchange can be deposited in the NRE account and there is nothing to show that the assessee received the money back after giving cheque to his minor son and thus the Assessing Officer was found to be not justified in finding the gift as an arranged gift. Then the consideration of reciprocity, also was negated, as gift is made without any consideration, and under natural love and affection. Various other judgments were also considered in this regard, and followed. Then, discussing the gift of Rs. 1,20,000 again it was found that the donors were assessed to income-tax, their identity was not in doubt although all of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to whether the Tribunal was right in law in deciding the deletion of the gifts on protective basis in their hands and simultaneously deleting the additions made on substantive basis in the hands of the father of the assessee, because the financial capacity of the donor has not been proved at any stage either at the assessment stage or at the appellate stage. By framing these questions, appeals were admitted for hearing. 6. On the other hand, learned counsel for the assessee has relied upon two judgments of this court one being in the case of Nek Kumar v. Asst. CIT [2005] 274 ITR 575 (Raj), and the other judgment in CIT v. Padam Singh Chauhan reported in 215 CTR 303 ; [2009] 315 ITR 433 (Raj) to contend, that in Padam Singh's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y be, that if, in arriving at a conclusion either way, on this aspect, any relevant material is ignored or irrelevant material is considered or there is misreading or non-reading of record then it may, of course, give rise to substantial question of law. So far as the case law cited on either side is concerned, the judgment in Chain Sukh Rathi's case [2004] 270 ITR 368 (Raj), in respect of the gift, while deciding the matter, does not lay any law, except that in that particular case, gift by the father to the son was not recognized, while in view of various other judgments, including the judgment rendered by the same Bench in Nek Kumar's case [2005] 274 ITR 575 (Raj), a diametrically contrary view has been taken. In Nek Kumar's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is clear that, in the present case, 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. 10. In that view of the matter, 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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