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2018 (11) TMI 1321 - AT - Income TaxAddition of unexplained gift -assessee was not able to place on record any material evidence to establish the genuineness of the aforesaid cash gift - AR contends that the aforesaid gift from father to the assessee cannot be taxed in the hands of the assessee in terms of Sec. 56(2)(viic) - Held that:- On a careful perusal of Sec. 56(2)(viic) and the proviso thereto, it of the view that the provisions thereof would not apply as the assessee has failed to prove with material evidence that he had actually received a cash gift of ₹ 10.50 lakhs from his father (i.e. relative); apart from the claim made to that effect. While it is true a gift deed dt.25.9.2017 was filed in this regard before the AO, the same is only a self serving documents bereft of corroboration by any material evidence to establish both the credit worthiness and capacity of the father to give a cash gift of ₹ 10.50 lakhs and in the absence of any corroborative material evidence in this regard, I am of the considered view and hold that the impugned orders of the authorities below on this issue are upheld and the assessee's claims, being bereft of any merit, are to be rejected. - Decided in favour of revenue
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