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2015 (1) TMI 287 - HC - Income TaxReceipt of cash as gift from unrelated person - foreign gifts - Whether on the facts and in the circumstances of case, the Hon'ble ITAT was justified in law in accepting the genuineness of gifts at ₹ 9,58,759/- especially when there was no occasion to receive huge gifts from unrelated persons - Held that:- assessee was not having blood relations with any of the donors. The plea taken by the assessee was that they were his family friends and had come forward to help him to set up a MRI Scan Centre. It was found that there was no occasion to make the gifts either by close relations or strangers. Dr. Jagjit Singh, father of donors Gurpreet Kaur and Manpreet K. Sahdev admitted that he had received cash gift from his daughters. It was found unbelievable that instead of giving any gift or monetary help to some charitable organization, a large number of strangers had chosen the assessee to make alleged cash gift running in lacs of rupees. Though, in the report of Assessing Officer submitted on the basis of additional facts and evidence produced by the assessee, the transactions in dispute were not doubted, but the fact remains that the donee was not having blood relations with the donors. - Alleged foreign gifts in favour of the assessee by persons are not genuine. - Decided in favour of Revenue.
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