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2009 (12) TMI 657 - ITAT DELHIGift - relationship of donor and done – Held that:- assessee failed to bring any evidence indicating the motive for the gift i.e. love and affection etc. between the donor and done - As far as furnishing of evidence in the shape of gift deed PAN number etc. are concerned when such gifts are received under due consultation then hardly their can be any lacuna in the documentation. But such documents are not sufficient for treating such gifts as genuine – Against assessee. Gift received by the assessee from her NRI brother - evidence exhibiting the gift received was also supplied - gift comes within the ambit of exception provided in sec. 56(v) of the Act because it was received from the real brother - Assessing Officer doubted the genuineness of the gift only on the ground that assessee has been showing receipt of gift in almost alternate year – Held that:- That cannot be a sound logic for doubting the gift from the blood relative – Addition deleted – In favor of assessee. Income from house property – deduction of interest on loan - assessee has shown house loan from firm – interest disallowed on the ground that assessee was not occupying the house which was purchased after availing loan – Held that:- She was found with her husband on a different premises at the time of search that does not mean that she cannot claim deduction of interest expenses on a housing loan in her individual return - Section 24(b) nowhere put any restriction on such claim for the reasons assigned by the learned CIT (Appeals) as well as Assessing Officer – decided in favor of assessee.
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