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2012 (3) TMI 133 - AT - Income TaxGenuineness of Gifts - Grandfather owner of 34 bighas of land cultivating wheat, paddy - Cash gifts on account of Natural love - Held That:- No evidence to show agriculture land is well irrigated. There is an element of overstating 34 bighas of land. Other relatives of assessee also at village, entire saving from agriculture without produce at no doubt. AO should have summoned the above facts from donour, no such effort made, it would bu suffice to sustain addition of Rs 307562 after giving relief of Rs 4,00,000. Cash Credit - Confirmation letters of creditor were filed - AO: identity not sufficient creditworthiness to be proved - Held That:- creditors are relatives of the assessee and have mentioned their relationship with the assessee in the confirmation letters filed before the AO, the absence of any material to doubt the genuineness of the transaction assessee has discharged its initial onus. Addition of Rs.77,800/- is deleted.
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