Home Case Index All Cases Income Tax Income Tax + SCH Income Tax - 2016 (12) TMI SCH This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (12) TMI 1596 - SCH - Income TaxRevision u/s 263 - genuineness of the gift proved - Held that:- No reason to entertain this special leave petition, which is, accordingly, dismissed. HC Order confirmed [2016 (6) TMI 1004 - BOMBAY HIGH COURT] HC held that AO was satisfied, consequent to making an enquiry and examining the evidence produced by the Assessing Officer, establishing the identity and creditworthiness of the donor as also the genuineness of the gift. The CIT in his order of Revision, does not indicate any doubts in respect of the genuineness of the evidence produced by the Assessee. There can be no doubt that where the view taken by the Assessing Officer is a possible view, interference under Section 263 of the Act, is not permissible. - Decided in favour of assessee 1
|