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2010 (7) TMI 36 - HC - Income TaxGift – genuineness of gifts – Held that: - we find that not only was the genuineness of the two gifts established inasmuch as registered gift deeds were produced but also the statements of two donors along with the assessee were recorded. In fact, the tribunal in the impugned order has concluded on facts that the identity and creditworthiness of the donors was proved beyond doubt. - as gifts were made by way of registered gift deeds as well as payments were made by way of account payee cheques and both the donors are income tax assesses, it cannot be said that the gifts are not genuine
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