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2012 (9) TMI 482 - SC - Income TaxGift from NRIs - Department queried about financial capacity of the donors to make the gift(s) - Held that:- As the ITAT has only stated that the two donors were assessed to tax at Singapore but not at all answered about the financial capacity of the donors this not answer the query raised by the Department. The burden is on the assessees to show that the amount received by purported gift(s) from the two donors was a "gift" in the legal sense who contended that no opportunity was given to prove their case - the impugned Orders of the High Court and the ITAT is set aside and ITAT is directed to re examine - open to the assessees to produce relevant evidence in the light of case of Commissioner of Income Tax vs. P. Mohanakala [2007 (5) TMI 192 - SUPREME COURT] transactions though apparent were held to be not real ones. May be the money came by way of bank cheques and was paid through the process of banking transaction but that itself is of no consequence - in favour of Revenue by way of remand.
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