9911796707
TMI Blog2014 (1) TMI 875X X X X Extracts X X X X X X X X Extracts X X X X ..... ee has received gift of Rs. 3.5 lacs from her father Shri Vasudev Sharma on 01.04.2006 Rs. 1,00,000/- and on 22.09.2006 Rs. 2.5 lacs. This was received in cash and occasion being construction of residential house by the assessee. The AO required the assessee to produce donor for examination, but he was not produced. The assessee has merely filed a plain letter from the donor in which he has stated to have gifted Rs. 3,50,000/- on the above two days. It was claimed in the said letter that the gift is made out of his savings and advance given to the farmers, but the same was not supported by evidence. Full address of the donor has also not been given. The AO, therefore, held that the assessee has failed to prove identity of the donor, his cap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e paper book at page 30 to 33. He has, however, submitted that since gifts are given through cash, therefore, bank statement is not relevant. He has, therefore, submitted that the assessee has proved genuine gift in the matter. 5. On the other hand, the ld. DR relied upon the orders of the authorities below and decision reported in 291 ITR 306 (no relevant case law) and decision of Punjab & Haryana High Court in the case of Tirathram Gupta vs. CIT, 304 ITR 145, in which it was held, a gift cannot be accepted as such to be genuine, merely because the amount has come by way of cheques or draft through banking channels unless the identity of the donor, his creditworthiness, relationship with the donee and the occasions are proved. Unless the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case of the assessee. Further, the copy of three sale deeds have been filed to show that the donor has availability of Rs. 5,45,100/- on account of sale of 12.5 bighas of agricultural land at Chatarpur. The dates of sale deeds are 09.09.2002, 28.08.98 and 28.08.99. There is a wide difference of several years in the execution of sale deeds and the gift given to the assessee in assessment year 2007-08. It is not explained as to where the donor has kept money after selling the agricultural land. The copies of two bank accounts of the donor are filed in the paper book, in which no such amount of receipt of sale proceeds of agricultural land have been deposited. There are no sufficient withdrawals from the bank to establish giving of cash gifts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has no taxable income and in the assessment year 2007-08 under appeal, when gifts were given to the assessee, for the individual assessee the basic exemption limit was Rs. 1,00,000/- and for the persons having age above 65 years, basic exemption from Income-tax was Rs. 1.85 lacs. When the donor has no taxable income and was not filing any return of income, would clearly prove that he was not having sufficient means even to meet out the basic needs Therefore, there is no question of giving cash gift of Rs. 3,50,000/- to the assessee in the assessment year under appeal. No evidence of having any savings in past have been filed. Therefore, the totality of facts and circumstances would clearly establish that the assessee has no evidence to prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5,000/- being unexplained cash. At the appellate stage the claim of the assessee was not substantiated through any evidence. Therefore, the appeal of the assessee was dismissed. 8. After considering the rival submissions, we do not find any merit in this ground appeal of the assessee. The ld. counsel for the assessee referred to PB-34, which is balance sheet as on 31.03.2006, showing cash in hand of Rs. 32,000/- which relates to preceding assessment year 2006-07. The assessee has not filed copy of acknowledgement of filing of return of income for the assessment year 2006-07 to show the said balance sheet if was filed with the revenue authorities along with the return of income. No evidence was furnished in this regard before the AO. The AO ..... X X X X Extracts X X X X X X X X Extracts X X X X
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