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2014 (5) TMI 968 - HC - Income TaxGenuineness of foreign gifts – Financial capability, identity, relation and occasion not proved - Held that:- Following Commissioner of Income Tax Versus M/s Udham Singh & Sons, Gor [2014 (3) TMI 467 - PUNJAB AND HARYANA HIGH COURT] - NRI gift from a stranger was neither genuine nor valid - mere identification of donor and showing the movement of gift amount through banking channel is not enough to prove genuineness of the gift - The assessee was required to establish that the donor had the means and the gift was genuine, for natural love and affection - there being neither any relationship nor there being any circumstance to show natural love and affection of the donor for the donee nor there being any occasion to make such gifts to the assessee - the assesse was unable to show that there was any occasion or relationship to make the gift – Decided in favour of Revenue.
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