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Commissioner of Income Tax Central-II (1), Chennai Versus SP. Thavamani

2015 (4) TMI 553 - MADRAS HIGH COURT

Unaccounted gifts - whether the two donors had the financial capacity to make the gift(s) in favour of the assessees herein? - ITAT deleted the addition - Held that:- In the light of the decision of the Supreme Court in the case of P.R.Ganapathy (2012 (9) TMI 482 - SUPREME COURT), wherein held that the burden is on the assessees to show that the amount received by purported gift(s) from the two donors was a "gift" in the legal sense. Assessees have not led evidence to show whether the alleged do .....

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-3-2015 - R. Sudhakar And R. Karuppiah,JJ. For the Appellant : Mr T R Senthilkumar, Standing Counsel For the Respondent : Dr Anita Sumanth ORDER (Delivered by R. Sudhakar,J.) This Tax Case (Appeal) is filed by the Revenue as against the order dated 28.07.2006 made in IT(SS) A.No.53/Mds/1998 on the file of the Income Tax Appellate Tribunal Madras 'B' Bench for the block assessment period 1986-87 to 1996-97. 2. The brief facts of the case are as follows: During the search conducted in the .....

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rdingly, made additions. 3. Since the matter pertains to block assessment, the matter was taken up by the assessee to the Tribunal and the Tribunal by placing reliance on the decision in the case of P.R.Ganapathy and Smt.T.Kannaki in ITA Nos.310 & 311/M/2002 and 148/M/02 dated 9th February, 2004, held that the bonafides of the donor has been established and therefore, the case of the assessee also merits consideration favourably. The Department pursued the matter before this Court on the que .....

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012] 26 taxmann.com 354 remanded the matter holding as follows: "3. P.R.Ganapathy, Respondent No.1, claims to have received purported gift from two NRIs, viz., T.Chandra and Pushpa Rani in the sum of Singapore Dollars 2,14,000/- and 1,70,000/- respectively. Respondent No.2-T.Kannaki, received purported gift in the sum of Singapore Dollars 1,70,000/-. 4. On going through the records, we find that an important query was raised by the Department as to whether these two donors had the financial .....

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