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2006 (9) TMI 143 - HC - Income Tax
Addition made on gifts received from various non-residents - creditworthiness and genuineness of the gifts - HELD THAT:- It is well-settled that mere identification of donor and showing the movement of gift amount through banking channel is not enough to prove genuineness of the gift. The assessee was required to establish that the donor had the means and the gift was genuine, for natural love and affection. We have dealt with this aspect of the matter at length in our judgment, in Subhash Chander Sekhri v. Deputy CIT [2006 (7) TMI 160 - PUNJAB AND HARYANA HIGH COURT].
We are of the view that the concurrent findings of fact recorded by the authorities that the gifts in question were not genuine, are pure findings of fact and no substantial question of law arises.
The appeal is accordingly dismissed.