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2011 (2) TMI 151 - HC - Income TaxAddition - Bogus gift - NRE gift and premium paid for arranging the said gift - Income escaping assessment - Assessing Officer and the CIT (A) were justified in holding that the gift in question was bogus and the Tribunal committed patent error in accepting the gift as genuine. Admittedly, the donor had no relationship with the assessee. He had no occasion to give the gift. He was not produced. His financial capacity was not established. His bank statement was not produced. The Tribunal failed to appreciate these facts. It, thus, committed patent error of law in holding that the assessee discharged onus on him to prove the genuineness of the gift. - 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 - NRI gift could not be accepted as genuine unless the assessee was able to prove natural love and affection and financial capacity of the donor. - Decided against the assessee
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