2002 (11) TMI 24 - HC - Income Tax

"1. Whether, Tribunal was justified in law in holding that the amount of Rs. 3 lakhs received by the assessee/appellant is not in the nature of gift but is an income from undisclosed sources? - 2. Whether, Tribunal was justified in law or true interpretation of the provisions of law under section 68 or under section 69 in holding that as per the requirement of raw the appellant has not discharged the burden on him in respect of the said transaction of gift and arriving at the conclusions which are not relevant to the issue and hence the findings are perverse as the conclusion is based on no material on record and finding that Rs. 3 lakhs is the income of the appellant from undisclosed sources is bad in law?" - Having regard to the inquiries conducted by the Assessing Officer from the bank, with which the assessee was admittedly confronted and bearing in mind the fact that admittedly said Subhash Sethi was not related to the assessee, we are of the view that the findings recorded by the Tribunal are pure findings of fact warranting no interference. We find it difficult to hold that on the facts of the instant case proper opportunity had not been granted to the assessee to prove the gift.