TMI Blog2013 (12) TMI 868X X X X Extracts X X X X X X X X Extracts X X X X ..... s, they are considered to be genuine gifts - The assessee has produced enough evidence to prove the identity of the donors, their creditworthiness and also the genuinity of the gift transactions - The gifts have been given through cheques and stand confirmed by the donors - The donors have also proved the sources of their respective gifts - No adverse materials was found during the course of search to even suspect the gifts – the gifts are otherwise genuine and have already been disclosed by the assessee in the returns filed before the date of search and which have already become final – Decided in favour of Assessee. Addition on account of unexplained personal expenses – Held that:- The disallowance out of expenses claimed on account of personal or non-business user of the vehicles is not justified - The auditor has simply mentioned that some personal use of business assets is not denied by the assessee and the value of the same could not be ascertained by them - ad hoc and baseless additions cannot be encouraged – Decided in favour of Assessee. Addition of gold ornaments – Held that:- The finding of the CIT(A) is not justified being simply ad hoc and without any valid basis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a bird's eye view of the reasons for the additions, we extract paras 7 and 9 of the AO as under:- "7. Gifts received during the year During the course of search on 20th Sept., 2007 certain incriminating documents/loose papers were found and seized at the residential premises of Shri Dharampal Dembla, Smt. Neeta Dembla, Shri Vishal Dembla, Smt. Bhoomika Dembla and Smt. Preet Dembla. It was found that certain Annexures such as Annex. A-23 and Annex. A-36 relate to gift deeds and related papers. It was found that the assessee family had received gifts of Rs. 1.64 crores during the years 2001-02 to 2007-08. The details of these gifts as appearing in the seized material are as under:- Name Amount Smt. Neeta Dembla 41,00,000 Shri Vishal Dembla 44,99,975 Smt. Bhoomika Dembla 13,00,000 Shri Dharampal Dembla 22,00,000 Smt. Preet Dembla 38,00,000 Dharampal Dembla and Sons 5,00,000 Total 1,63,99,975 Shri Dharampal Dembla was asked in his statements recorded during the course of search about the genuineness of the gift and identificati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii) Copy of bank statement (iv) Copy of IT return and computation of total income for the asst. yrs. 1999-2000, 2000-01, 2001-02 and 2002-03 (v) Copy of balance sheet as on 31st March, 1999, 31st March, 2000, 31st March, 2001 and 31st March, 2002. The above documents clearly prove the identify, creditworthiness of the donor and genuineness of the gift. In view of the above the gift of Rs. 50,000 made by Shri Amit Ramesh Shadija to the assessee may kindly be treated as explained. 2. The assessee has received the gift of Rs. 50,000 from Smt. Gouri Ramesh Shadija resident of Ulhasnagar vide draft No. 596761 dt. 21st March, 2002 drawn on Dena Bank under natural love and affection. To prove the identity, creditworthiness of the donor and genuineness of the gift, the following documents are enclosed:- (i) Copy of gift deed (ii) Affidavit dt. 22nd May, 2009 (iii) Copy of PAN (iv) Copy of bank statement (v) Copy of IT return and computation of total income for the asst. yrs. 1999-2000, 2000-01, 2001-02 and 2002-03 (vi) Copy of balance sheet as on 31st March, 1999. 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plained. Thus the assessee has failed to establish the creditworthiness and capacity of the donors to gift such huge amount. No other details or evidence was filed by the assessee. The assessee has failed to produce the donor for examination. Further, evidences furnished by the assessee to prove the creditworthiness of the donor are not satisfactory and do not establish the genuineness of the gift transactions and creditworthiness of the donor. The assessee has not filed any authentic evidence to support and corroborate the financial status of the donors for coming to a conclusion; that in fact the donors were in a capacity to give such huge amounts as gifts to persons out of love and affection as claimed by the donor in his affidavit in the case of the assessee. Since the donors in the affidavits claimed to have made the gifts out of love and affection, here comes the importance of human probability which prompted the donors to donate generously huge amounts to persons not related out of love and affection for determining the genuineness of the gifts, irrespective of the fact that the amounts have been received as gifts by the assessee through banking channels. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the present case, there is nothing on record to show as to what was the financial capacity of the donor, what was the creditworthiness of the donor; what are the sources of funds gifted to the assessee and whether he had the capacity of giving large amount of gift to the assessee as well as their family members. Even the relationship cannot make the gift genuine. The jurisdictional Rajasthan High Court has also expressed same view while deciding the case of Chain Sukh Rathi vs. CIT (2003) 185 CTR (Reg) 56 : (2004) 270 ITR 368 (Raj), wherein it was held by the Hon'ble Court that:- The assessee has shown the gift from his father. It is true that Rs. 30,000 has been paid by cheque by his father, but there is no occasion for the father to gift this amount to the son. This amount is also rightly treated as undisclosed income of the assessee, which has been received in the name of gift from his father. Consequently, the addition made by the AO and affirmed by the Tribunal is confirmed.' A perusal of the above judgment of the Hon'ble Rajasthan High Court reveals that the Hon'ble Court has treated the gift of small amount of Rs. 30,000 from a father to his son as not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and their family members have not made any gift to any person during the whole period of seven years from 2001-02 to 2007-08. Thus surrounding circumstances suggest that the gifts were not genuine. Hon'ble Gauhati High Court in the case of Assam Pesticides and Agro Chemicals vs. CIT (1998) 145 CTR (Gau) 213 : (1997) 227 ITR 846 (Gau) and Bombay High Court in the case of Choithram Begrqj Lalvaney vs. CIT (1992) 197 ITR 302 (Bom) also supported the same view. The essence and ratio of above Courts' decisions is that the cases have to be examined after considering the surrounding circumstances and applying the test of human probabilities. In the present case, human probability and surrounding facts show that the gifts were not genuine. It was held by Hon'ble Punjab and Haryana High Court in the case of Yash Pol Goel vs. CIT (2009) 224 CTR (PandH) 315 : (2009) 310 ITR 75 (PandH):- 'A simple identification of the donor and showing the movement of the gift amount through banking channels is not sufficient to prove the genuineness of the gift. Since the claim of gift is made by the assessee, the onus lies on him not only to establish the identity of the person making ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of Sumati Dayal vs. CIT (1995) 125 CTR (SC) 124 : (1995) 214 ITR 801 (SC), while deciding the issue of winning the jackpot from horse race has held that:- 'the matter has to be considered in the light of human probabilities. It was held that the transaction about purchase of winning ticket takes place in secret and direct evidence about such purchase would be rarely available. An inference about such a purchase has to be drawn on the basis of the circumstances available on the record ...In our opinion, the majority opinion after considering the surrounding circumstances and applying the test of human probabilities has rightly concluded that the appellant's claim about the amount being her winnings from races is not genuine.' Thus it is held that the assessee has failed to prove the creditworthiness of the donor and to establish the genuineness of the gift transactions. Therefore considering all the above facts and circumstances gifts of Rs. 1,00,000 (Rs. 50,000 from Shri Amit Sadija and Rs. 50,000 from Smt. Court Sadija are treated as bogus and added to the total income of the assessee. Penalty proceedings (sic) who was minor during the year under considerati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 1 lac on account of gifts received by the minor daughter of appellant namely Ms. Bhoomika Dembla from two persons namely Shri Amit Ramesh Sadiza and Gauri Ramesh Sadiza amounting to Rs. 50,000 from each person. In respect of genuineness of the these gifts the assessee has filed copy of gift deed, affidavit, copy of bank statement, copy of IT return and copy of computation of income for asst. yrs. 1999-2000 to 2002-03 along with balance sheet as on 31st March, 1999 to 31st March, 2002. There is no dispute on the identification of the donors but the donors were not produced for examination and specific evasion and reason for making gift was also not stated. The exact relationship of these two donors to the appellant was also not mentioned. As per AO returned income shown by the donors as mentioned at p. 10 of this appellate order also did not justify making of such gifts. In this background even if the transactions of gift were through banking channel the assessee has failed to establish the creditworthiness and capacity of the donor as also the genuineness of such gifts in as much as the donors are not at all related to the appellant and prima facie there was no specific occasion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tly, the addition made by the AO and affirmed by the Tribunal is confirmed.' Keeping in view the above-mentioned and specifically the fact that the above-mentioned gift during the course of search was admitted to be of unexplained nature, the donors are having very modest, income, the immediate source in their bank account is not properly explained and also that no specific occasion for making of gift was stated, the addition made by the AO appears to be well justified. The addition of Rs. 1 lac made by the AO is confirmed. The ground of appeal is dismissed. (ii) Asst. yr. 2003-04 During this assessment year gifts of Rs. 10 lacs have been shown from Shri Shoyab Hussain, resident of Kuwait amounting to Rs. 9 lacs and Rs. 50,000 each by Shri Lalit Kumar Srimali and Smt. Jamuna Devi Menaria. In the case of Shri Shoyab Hussain though the appellant has furnished copy of gift deed, copy of passport and affidavit but the bank statement of donor was not filed and in absence of bank statement the creditworthiness of the donor was stated to be not proved. The donor is not at all related to the appellant and in fact the donor has made another gift of Rs. 14 lacs to the sons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o not proved. The other important issue to be noted that even during the assessment proceedings, when the appellant and family members of the appellant were confronted to intimate regarding family background and other personal details of such donors it was found that the appellant and their family members were not aware of any such personal details of the donors. Though the appellant has shown such gifts but there is no reciprocation in as much as no gift has been made by the appellant to such donors. Such corroborative facts definitely strengthen the finding of the AO that such gifts are not genuine. Keeping in view these facts the action of the AO as also placing reliance on the case laws discussed in respect of gifts received during asst. yr. 2002-03 treated as such gifts amounting to Rs. 10 lacs as of undisclosed nature cannot be faulted. Therefore addition made by the AO is confirmed. The ground of appeal is dismissed. (iii) Asst. yr. 2004-05 During this assessment year total gift of Rs. 5 lacs (Rs. 3 lacs from Shri Hansmukh Salar and Rs. 2 lacs from Smt. Premlata Salar w/o Shri Hansmukh Salar). Shri Hansmukh Salar is stated to be employee of M/s BSNL, Udaipur h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fact it may be noted that the documents furnished by the appellant definitely proved the identity of such donors but the fact remained that these two donors who happened to be husband and wife are not at all related to the appellant and there was no specific occasion for making such gift. Though it is claimed Shri Hansmukh Salar was having close relation with appellant and his family but such facts are absolutely incorrect in as much as the appellant and family member have shown absolute ignorance regarding the basic information o family background of such donors. The other vital point to be noted is that such donor family is having annual income of Rs. 2.27 lacs approximetely (Rs. 1.31 lacs + Rs. 96,000) and against such annual income in a particular assessment year they are claiming to be making a gift of Rs. 5 lacs which is beyond any genuine possibility. Moreover the appellant has not rebutted the finding of the AO as to why such donors were not produced for examination as also why their bank statements have not been filed. In this background the creditworthiness of such donors is definitely not said to be proved. Further the returned income by these persons definitely did not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd therefore the summons could not be served. Shri Rajesh Nemichand was not found to be residing on the address given in the gift deed. These facts were brought to notice of the assessee and the appellant also has shown his ignorance regarding the whereabouts and address of such donors. In fact the appellant claimed that the Department should ascertain their complete address from latest IT return filed with the Department. In respect of such gift the appellant has broadly made similar submission as made in respect of asst. yrs. 2002-03, 2003-04 and 2004-05. It is stated the copy of gift deed, copy of IT return, copy of capital account, balance sheet, PAN clearly proved the identity, creditworthiness and genuineness of the gift. It is claimed that the payment of gift money by the donors to donee through account payee cheque and also encashed by the donee in their bank account clearly proved the genuineness of the gift. It is also contended that the genuineness of gift transactions cannot be doubted and added to the returned income merely on non-production of the donors. As regards the fact that the assessee was having no blood relation or any occasion or reciprocation for receiving ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the addition made by the AO and affirmed by the Tribunal is confirmed.' The genuineness of the gift also appeared to be doubted from the angle of human probability in as much as the donors who are not at all related to the appellant, claimed to have made gift of Rs. 15 lacs parting with his 25 per cent of his capital. This fact is further supported from the statements of appellant and their family members wherein they admitted all type of ignorance regarding the family background of such donor as also the present whereabouts of such persons. The important point to be noted that how an unknown person who have never visited the residence of the appellant without any specific occasion would show such amount of love and affection and make gifts of Rs. 15 lacs. Similarly how the appellant who is very vaguely knowing the donors and never visited the residence of donors will claim to be receiving gift of Rs. 10 lacs and Rs. 5 lacs from such donors. This is also fact that during the course of search on the basis of such incriminating documents the appellant himself admitted such gifts as of unexplained nature. Therefore keeping in view facts and circumstances discussed above, the gi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is issue are that the assessee had already submitted returns of income prior to the date of search. The returns were processed under s. 143(1) and had attained 'finality'. As per the assessee no document was found during the course of search to draw an adverse inference therefrom. According to the assessee, assessment under s. 153A has to be confined to materials found during the course of search and items disclosed in the original return cannot be disturbed. In this regard, reliance has been placed on the decision of the Hon'ble jurisdictional High Court in the case of Jai Steels (India) vs. Asstt. CIT (2013) 259 CTR (Raj) 281 : (2013) 88 DTR (Raj) 1. Copy enclosed at p. 132 onwards of the paper book filed in the appeal folder pertaining to asst. yr. 2002-03. The learned Authorised Representative has also relied on the decision of the Delhi Bench of the Tribunal rendered in the case of and Kumar Bhatia and Ors. vs. Asstt. CIT in ITA No. 2660/Del/2009 order dt, ast Jan., 2010. Thus it has been argued that the assessee had already disclosed all the gifts in the earlier assessment years in the respective returns of income filed prior to the date of search which have become final. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... corollary of the second proviso is that the assessment or reassessment proceedings, which have already been 'completed' and assessment orders have been passed determining the assessee's total income and, such orders are subsisting at the time when the search or the requisition is made, there is no question of any abatement since no proceedings are pending. The argument raised by the counsel for the assessee to the effect that once a notice under s. 153A is issued, the assessments for six years are at large both for the AO and assessee has no warrant in law. From a plain reading of the provision along with the purpose and purport of the said provision, which is intricately linked with search and requisition under ss. 132 and 132A, it is apparent that : (a) the assessments or reassessments, which stand abated in terms of second proviso to s. 153A, the AO acts under his original jurisdiction, for which, assessments have to be made; (b) regarding other cases, the addition to the income that has already been assessed, the assessment will be made on the basis of incriminating material and (c) in absence of any incriminating material, the completed assessment can be reiterated and the aba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Any interpretation which leads to such conclusion has to be repelled and/or avoided. Consequently, it is held that it is not open for the assessee to seek deduction or claim expenditure which has not been claimed in the original assessment, which assessment already stands completed, only because an assessment under s. 153A in pursuance of search or requisition is required to be made Suncity Alloys (P) Ltd. vs. Asstt. CIT (2009) 124 TTJ (Jd) 674 : (2009) 27 DTR (Jd)(Trib) 139 affirmed; CIT us. Smt. Shoila Agarwal (2012) 246 CTR (AU) 266 : (2042) 65 DTR (All) 41 : (2012) 346 ITR 130 (AU) relied on; K.P. Varghese vs. ITO (1981) 24 CTR (SC) 358 : (1981) 131 ITR 597 (SC) applied. Conclusion : In an assessment under s. 153A, it is not open to the assessee to seek deduction or claim relief not claimed by it in the original assessment which already stands completed before the date of initiation of the search or making of requisition." 2.9 Therefore, by respectfully following the above judgment, we allow ground No. 2, in all the years, in favour of the assessee. The gifts already disclosed by the assessee in the returns of income, which have attained finality, cannot be disturbed. Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iv) The affidavit of the donor was also submitted during the course of assessment proceedings in which he once again confirmed the gifts so given; (v) The donor also visited India for this purpose and had also confirmed the gift in question in his statement recorded during the course of assessment proceedings; (vi) No adverse material has been found during the course of search; (vii) The copy of current bank account position was also submitted to the learned AO by the donor. Asst. yr. 2004-05 Ground No. 5 (i) The appellant's daughtef Bhoomika Dembla 'had received gift of Rs. 2,00,000 from Smt. Prem Lata Salat; (ii) Documents submitted in support of gift from Smt. Prem Lata Salat (paper book 62 to 68); (iii) The complete address of the donor was submitted and she is also regularly assessed to tax; (iv) She is close family friend and the gift was given through cheques; (v) Copy of gift deed was duly submitted which was also found during search proceedings. The copies of IT returns filed by the donor were also submitted from which also the gift made was fully verifiable. Ground No. 6 (i) The appellant had received one gift during ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rwal (paper book 46 to 54):- (a) The complete address of the donor was submitted who was engaged in the business of financing. He is also regularly assessed to tax; (b) He is a close family friend and the gift was given through cheques; (c) Copy of gift deed was duly submitted which was also found during search proceedings. The copies of IT returns filed by the donor and copy of balance sheet were also submitted; (iii) Documents submitted in support of gift from Naveen Veerchand Gala:- (a) The complete address of the donor was submitted who was engaged in. the business of real estate. He is also regularly assessed to tax; (b) He is a close family friend and the gift was given through cheques; (c) Copy of gift deed was duly submitted which was also found during search proceedings. The copies of IT returns filed by the donor and copies of balance sheet were also submitted. 5. After considering the aforementioned proof regarding gifts, we are satisfied that these are genuine gifts. The assessee has produced enough evidence to prove the identity of the donors, their creditworthiness and also the genuinity of the gift transac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o bills and vouchers of gold purchases made by the family of the assessee. In his statement recorded on 20th Dec., 2007 under s. 131 of the Act, at his residence, the assessee stated that these bills for Rs. 3,96,606 by Shri Vishal Dembla and Smt. Preet Dembla and that such gold was part of the gold found and seized from their residence. As per the assessee these purchases related to Smt. Preet Dembla and such gold was part of the gold found and seized from their residence. As per the assessee, such purchases were made by Smt. Preet Dembla out of accumulated savings and withdrawals. Because the assessee could not file the supporting evidence for this accumulated saving he has added this amount of Rs. 3,96,605. The learned CIT(A) has reduced this addition to Rs. 1,37,805 by observing as under:- "I have carefully considered the submissions of the appellant as also the findings of the AO. The AO's case is that as per pp. 1 to 3 and 7 to 14 of Annex. A-37 certain bills and vouchers of gold purchases were found and seized which indicated purchase of gold ornaments for Rs. 3,96,605 by Shri Vishal Dembla and Smt. Preet Dembla. Though the appellant contended that the gold found and se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... davits deemed to be accepted by the AO. On careful consideration of all relevant facts it may be noted that the jewellery valued for Rs. 1,37,805 was admittedly purchased by the appellant himself in cash in the name of Shri Vishal Dembla. There is no dispute on the fact- that such jewellery was purchased during the asst. yr. 2004-05 and therefore the source of purchase of such jewellery needs to be examined in respect of asst. yr. 2004-05. The appellant has shown withdrawal of Rs. 2,05,440 and it is contended that such purchases were made out of such withdrawal. Alternatively it is also contended that the gold purchased was ultimately part of total gold ornaments found/seized during course of search. As the withdrawal of Rs. 2,05,440 is only shown for both of household expenses as well as purchase of such jewellery, it is unbelievable that such amount of withdrawal was sufficient for household expenses as well as making such investment. Further it is noted that such gold ornaments were purchased by way of different bills dt. 19th April, 2003, 20th April, 2003, 22nd April, 2003, 13th May, 2003 that means such purchases were made only during the months of April and May, 2003 whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant accordingly gets relief of Rs. 2,58,800. The ground of appeal is party allowed." 8. We have heard the rival submissions. Both the parties have reiterated their stand. After considering the submissions of the parties vis-a-vis the evidence on record, we have found that this finding of the learned CIT(A) is not justified being simply ad hoc and without any valid basis. Accordingly, the impugned additions made are deleted. 9. The next issue is that none of the additions are justified as no unexplained asset(s)/expenditure has been found during this search. This ground is also common in all the years. In asst. yrs. 2002-03, 2003-04 and 2005-06 the assessee has taken ground No. 7 and in asst. yr. 2004-05 he has taken ground No. 9 of his appeal. 10. After hearing both the sides, we have found that there is no other unexplained asset or expenditure which can be said to have been found during the search. The additions made are not supported by any unexplained assets or expenditure. On the basis of assets and the expenditure theory the addition so made in the hands of the assessee is apparently uncalled for and deserves to be deleted. Accordingly, all these appeals are partly all ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te, bank account and passport was also submitted. (iv) The affidavit of the donor was also submitted during the course of assessment proceedings in which he once again confirmed the gifts so given. (v) The donor also visited India for this purpose and had also confirmed the gift in question in his statement recorded during the course of assessment proceedings. (vi) No adverse material has been found during the course of search. (vii) The copy of current bank account position was also submitted to the learned AO by the donor, Asst. yr. 2004-05; ground No. 5 (i) The appellant had received one gift during the year under consideration. Gift of Rs. 4,00,000 was received from Naresh V. Mehta and gift of Rs. 10,00,000 from one Shri Kishore Dev Chand Jain. (ii) Documents in relation to Shri Kishore Dev Jain:- (a) The complete address of the donor was submitted who is a regular income-tax assessee and his number was duly submitted. (b) He had made gift through banking channels. (c) A copy of gift deed was duly submitted during assessment proceedings. (d) IT return and computation a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment. Therefore, no addition is called for. We order to delete this entire addition and allow ground No. 6 of the appeal for asst, yr. 2005-06. 16. In the result, all the appeals of Smt. Neeta Devi Dembla are partly allowed. Vishal Dembla 17. These are five appeals filed by Shri Vishal Dembla, for asst. yrs. 2002-03 to 2006-07 which are directed against a common order of the learned CIT(A), Jaipur, dt. ast March, 2013. In these appeals the grounds are almost common to the grounds raised in Shri Dharampal Dembla's case. The requisite details of these appeals are as under:- Asst. yr. Date of issuance of notice u/s. 153A Date of return filed u/s. 153A Returned income u/s. 153A Date of filing of original return Income declared in original return 2002-03 1-5-2008 10-6-2008 4,83.170 - - 2003-04 1-5-2008 10-6-2008 2,59,720 19-9-2003 2,59,720 2004-05 1-5-2008 10-6-2008 2,80.760 24-12-2004 2,80,760 2005-06 1-5-2008 10-6-2008 4,88.760 25-10-2005 4,88,760 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 74 lakhs were admitted in the name of the appellant as also other family members which were also surrendered for taxation." 19. The assessee has produced the following evidence to prove these gifts:- "Asst. yr. 2002-03; ground No. 5 (i) The appellant had received two gifts during the year under consideration. Gift of Rs. 1,00,000 was received from Shri Ramesh Chandra Jain and Rs. 1,00,000 was received from Shri Man Singh Kothari. (ii) Documents submitted in support of gift from Shri Ramesh Chandra Jain:- (a) The complete address of the donor was submitted who is employed with Hindustan Zinc and has substance, salary and interest income. He is also regularly assessed to tax. (b) He is close family friend and the gift was given through cheques. The gift was duly recorded in the regular books of accounts of the assessee. (c) Copy of gift deed was duly submitted which was also found during search proceedings. The copies of IT returns filed by the donor and copies of his bank accounts were also submitted. The gift was given out of the retirement fund received by the donor. (iii) Documents in support of gift from Shri M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ma (62 to 65):- (a) The complete address of the donor was submitted who is a regular income-tax assessee and his PAN was duly submitted. (b) He had made gift through banking channels. (c) A copy of gift deed was duly submitted during assessment proceedings. (d) IT return and computation and final accounts of the donor to indicate his capacity to make gift was duly submitted during the assessment proceedings. (e) He was a close family friend. (iii) Documents in relation to gift from Shri Vijay Sharma (66 to 89):- (a) The complete address of the donor was submitted who is a regular income-tax assessee. (b) He had made gift through banking channels. (c) A copy of gift deed was duly submitted during assessment proceedings. (d) Copy of his balance sheet as on 31st March, 2002 was duly submitted during the assessment proceedings to indicate the financial position. (e) He was a close family friend. (iv) Documents in relation to gift from Shri Jai Singh Sampat:- (a) The complete address of the donor was submitted who is a regular i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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