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2022 (3) TMI 1487 - AT - Income TaxAddition u/s 68 - gifts received from Haribhat Vekariya alleging that the creditworthiness of the lender was not established - HELD THAT:- It is not the case that revenue did not have the name and address of the person giving the gift. It is also not the case that the enquiry was made and the said person has failed to respond. CIT(A) has also accepted that the said person is having agricultural income and agricultural land. By no stretch of imagination, it can be presumed that people having agricultural income cannot make a small savings to give a small amount of loan or gift. Addition by such presumption without making any cogent enquiry is not sustainable in law. Accordingly, the addition sustained by the CIT(A) is liable to be set aside. We direct accordingly.
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