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2023 (9) TMI 28 - ITAT KOLKATAUnexplained deposit of cash u/s 69A - as submitted that the source of the said sum is gift from relative which is not taxable under section 56 - CIT(A) on the ground that the assessee had failed to produce any supporting materials this regard, confirmed the addition made by AO - HELD THAT:- It is claimed that the assessee received gift from father, mother and brother. It is also submitted that father of the assessee is a retired High Court Judge, namely, Justice Subhro Kamal Mukherjee, having PAN and files income tax returns regularly. The brother of the assessee is a Non-Resident Indian settled in U.S.A. and is not assessed to tax in India. Mother of the assessee is not an income tax assessee and she is a housewife. Considering the fact that undisputedly the gifts have been received from relatives as defined u/s 56(2)(vi) no dispute has been raised to the fact that father and brother of the assessee have sufficient source of income. Though, the assessee has not file any documentary evidence in the shape of gift deed, however, the details of the relatives were very much placed before the AO and if he was not satisfied he might have issued notice under the Act for seeking the necessary information. Assessee stated that copies of the income tax return of her father for Assessment Year 2016-17 was placed before the AO requesting him to consider the genuineness of the gift. As considering the fact that the donors either have sufficient source of income or they are senior citizens who have some past accumulated savings and, therefore, considering the same, we find that the genuineness of the said gift is proved and thus inclined to hold in favour of the assessee. We the set-aside the finding of the CIT(A) and delete the addition made u/s 69 of the Act. Accordingly all the effective grounds raised by the assessee stand allowed.
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