Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2009 (1) TMI 58 - PUNJAB AND HARYANA HIGH COURT
Gift received – genuineness of the gift - burden is on the assessee who has to prove the genuineness - assessee has failed to prove the genuineness of the gift, capacity of the donor to make the gift, the source from where the gift is made and the relation between the donor and the donee – transaction was nothing but a subterfuge to avoid income-tax - no benefit can be derived by the assessee – transaction is held as sham, not geniuine