TMI Blog2010 (5) TMI 497X X X X Extracts X X X X X X X X Extracts X X X X ..... on 64 of the I.T. Act. - IT APPEAL NO. 4333 (MUM.) OF 2009 - - - Dated:- 31-5-2010 - D. MANMOHAN, VICE-PRESIDENT J, AND J. SUDHAKAR REDDY, ACCOUNTANT MEMBER J, For Appellant : Shri Peeyush Jain(DR) For Respondent : -None- ORDER Per D. Manmohan, V.P. 1. Only ground of the Revenue reads as under : The learned CIT(A) erred in deleting the addition of Rs. 10 lakhs being gift received by his two minor sons which does not fall under the definition of relatives as per section 56(2)(v) of the IT. Act on the ground that Assessing Officer has not considered Explanation (iv) below clause (v) of sub section (2) of section 56 which includes the relative as brother and sister of the parents of the individual . 2. Non ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n from the bank statement that gifts has been properly depicted/entered in the bank statement. Not only that appellant has also submitted the copy of gift declaration/gift deed dated 9-12-2006 which has been made by Mr. Rajesh Sawlani Further more appellant has also submitted the zerox copy of the passport and visa of Mr. Rajesh Sawlani. All these fact proves the genuineness of claim of gift, hence addition made of Rs. 10 lakh on account of gift is hereby deleted and Assessing Officer is directed to reduce the assessment. 6. Aggrieved, Revenue is in appeal before us. We have heard the learned DR who strongly supported the Order of the Assessing Officer. On a careful perusal of record, we notice that the learned CIT(A) set aside the ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fall in the category of grandfather ; Donee is not even a lineal descendant of the donor which is highlighted with the help of the following chart. Mother Meena Pamnani Shri Rajesh Sawlani (Donor) (Maiden name Ms. Meena Sawlani) Brother of Ms. Meena Sawlani/Pamnani Father Shri Lucky Pamnani (Gift amount assessed u/s. 64 of the Act Mother Mrs. Lucky Master Devesh Pamnani Master Ayush Pamnani ..... X X X X Extracts X X X X X X X X Extracts X X X X
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