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2023 (9) TMI 147 - ITAT AHMEDABADAddition on account of Capital Introduction - source of principal amount of FDRs remained unexplained - neither the assessee could establish the relationship with his aunt from whom the disputed amount was received through FDRs and signatures of legal heirs was also found to be different in gift deed and passport - CIT(A) confirmed the addition - HELD THAT:- As the assessee was made a joint holder in those FDRs by her aunt, we do not find any reason to record the same in the books of account of the assessee. Further that, once family tree has been filed by the assessee showing relationship between the assessee and said Smt. Sushilaben Patel, which is definitely come under the purview of the definition of relatives as envisaged under Section 56 of the Act, we do not find any merit in rejecting the claim of the assessee. We also note that the assessee has declared total income and we do not find any reason or any apprehension in evading tax on the credits of capital account as gift from his aunt. Considering the entire aspect of the matter, particularly, the constant effort made by the assessee to justify his stand that the credit is from maturity of old FDRs made by his aunt who was taken care of by the assessee only in the absence of her relative staying abroad which fact was also confirmed by other relatives of the assessee with supporting evidences as we have already discussed hereinabove, we find that the impugned addition made by the Department is of no basis and thus, deleted. Income from house property - Staff quarter for MRI Staff - Fair rent estimation - HELD THAT:- The property purchased by the assessee at Baroda where he is running OPD being a self-occupied property, no addition on account of notional income is called for. The residential house being ancestral house situated at Village Karamsad which is old and uninhabitable condition belongs to appellant’s HUF. In our considered opinion, it cannot be said to be a residential house in individual capacity. However, the house purchased by the assessee at Ahmedabad to meet the needs of medical facilities at Ahmedabad Balasinor, where assessee stays for five days, as much nearer to Ahmedabad rather than Baroda, though, the same has been claimed not let out during the year under consideration cannot be accepted by us as the assessee failed to show that he has tried his best for letting out this property and ultimately becomes unsuccessful. We, thus, direct the Ld. AO to estimate the fair rent @15% of the value of this particular property and to pass order accordingly. This ground of appeal is, therefore, partly allowed.
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