TMI Blog2015 (12) TMI 346X X X X Extracts X X X X X X X X Extracts X X X X ..... donor is admittedly established even as per CIT (A) and source of gift is also established from the bank account of the donor in which there are sufficient deposits by way of clearing in addition to a small deposit of ₹ 50,000/- in cash. It is also seen that the donor is having relation with the donnee because it is observed by learned CIT(A) in Para 4.1.1 of his order that it was submitted before him that the gift was given by uncle and grandmother of the assessee and this contention of the assessee is not controverted by learned CIT(A) or by Learned D.R. of the Revenue. Under these facts, we are of the considered opinion that the addition made by the Assessing Officer and confirmed by CIT(A) is not justified. - Decided in favour of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7; 9,000/- on account of low withdrawals for house hold expenses. 3. Learned A.R. of the assessee reiterated the same contentions, which were raised before CIT(A) whereas Learned D.R. of the Revenue supported the orders of the authorities below. 4. We have considered the rival submissions. We find that the first issue in dispute regarding gift of ₹ 4 lacs was decided by learned CIT(A) as per Para 4.1.1 and 4.1.2 of his order, which are reproduced below for the sake of ready reference:- 4.1.1 The grounds no. 2, 3 4 of appeal are against the addition of ₹ 4,00,000/- as unexplained cash credit. The AO has observed that assessee has stated ₹ 4,00,000/- to be a gift received by her from Shri Ashok Kumar Bini Devi ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in order to establish that the gift is genuine and that donors have creditworthiness. The appellant has failed to do so. Merely relying on the fact that cheque was made for gift does not discharge the onus of the appellant. In this regard reliance is placed on the decision in the case of Umesh Krishnani vs Income-tax Officer [2013] 35 taxmann. Com 598 (Gujarat)/[2013] 217 Taxmann 13 (Gujrat) where it has been held that ''it was noted that yearly earnings of lenders were either less or almost similar to what they loaned to assessee - It was also found that substantial amount of cash was deposited in bank accounts of lenders shortly prior to issuance of cheques by them to assessee- Whether on facts, entire transactions was a circuitou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t it is noted by CIT(A) that it was the submission of the assessee before him that the gift was received by the assessee from her uncle and grandmother. It is also noted by CIT(A) that the assessee has furnished gift deed for the same. He has also observed that these details at best prove the identity of donors but not the genuineness of the gifts and creditworthiness of the donors. In this regard, we find that it is also noted by CIT (A) that the bank account details of the donor reveal cash deposits in their bank account before issuing cheques of ₹ 4,00,000/- to the assessee. The copy of bank statement of the donor is available in the paper book on pages 9 10. From the same, we find that the cheque of ₹ 4 lacs was cleared fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onfirmed by CIT(A) is not justified. Regarding two judgments followed by CIT(A), as has been noted by him on pages 8 9 of his order, we are of the considered opinion that in the facts of the present case, these judgments are not applicable and hence, we delete the addition of ₹ 4 lacs. 6. Regarding the second addition of ₹ 9,000/-, we find that it is noted by CIT(A) in Para 4.4 of his order that the house hold expenses of ₹ 3,000/- i.e. ₹ 250/- per month is low, even by standard of pocket money during the period. He has also noted that the assessee herself has declared income of ₹ 6,20,689/- during the present year. The learned CIT(A) has estimated the additional house hold expenses at ₹ 9,000/- as a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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