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2020 (8) TMI 257 - AT - Income TaxAddition of gifts u/s. 68 - genuineness of the gifts - HELD THAT:- AO has given ample opportunities to produce the donors and file evidences supporting the claim of the assessee. But the assessee was unable to produce the donor and other relevant evidences for substantiating the claim. Credits appearing in the books of the assessee cannot be accepted as gift because this gift is against human probability for such large sum of money gifted to the strangers. The assessee was unable to produce evidences to counter the requirement and to prove the genuineness of the transaction. The document produced by the assessee that is bank statement, ITR, Gift deed, bank accounts established that the gift received by the assessee is not genuine and is only to circulate his own money in the garb of gift and to evade the tax which is highly unlikely and against the human probability. Assessee has failed to prove the genuineness of the gifts in dispute by not producing sufficient evidences before the Revenue authorities. Therefore, the addition in dispute made by AO u/s 68 is as per law and no interference is called for in the impugned order passed by the Learned First Appellate Authority, because the same has been passed after examining the provisions of law as well as documentary evidences filed by the assessee along with various case laws mentioned in the impugned orders. Appeal of the assessee is hereby dismissed.
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