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2011 (9) TMI 564 - HC - Income TaxTaxability of Gifts - Cash gifts received from father-in-law - Commissioner (A) allowed the claim as donor has admitted that he has gifted the amount to the assessee - creditworthiness of the donor - Held That:- When total withdrawls from 98-04 were Rs 7,50,900 it cannot be believed that he had kept the said amount with him, so as to give it to his daughter and son in law in the year 2004. If all cash withdrawals were gifted by the donor than how he met his household expenses ? Even when Donor contends that he had other source of income to meet his household liabilities this stand also cannot hold good as donor went on withdrawing the cash from bank and kept the money with him for assessee for five years. Dedcided against assessee.
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