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2016 (11) TMI 1181 - RAJASTHAN HIGH COURT

2016 (11) TMI 1181 - RAJASTHAN HIGH COURT - TMI - Unexplained gifts - Held that:- Despite ample opportunity being afforded and calling upon the assessee as to whether there was any occasion or celebration due to which the gift was given to the assessee from the donor in the past or in further the donor had given any such gift to this assessee at the same time in the absence of any blood relationship or even remote relationship why the gift was at all made, no satisfactory explanation came forwar .....

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ion seeking condonation of delay u/S 5 of Limitation Act stands allowed and the delay is accordingly condoned. Heard on merits. The appellant-assessee filed return of income for assessment year 2003-2004 on 20/11/2003. A notice u/s 148 was issued on 24/3/2010 after recording reasons. In response to the notice, the assessee submitted his application to treat his original return as return filed u/s 148. Accordingly, the assessee requested reasons for initiating proceedings u/s 148 was served to th .....

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separately by the office vide letter dt. 19/11/2010. His defence was that he received a gift of ₹ 5.00 lacs which he had received from the donor and amount was transferred from the bank account of the donor Shri Ramnik, which was deposited in his bank account on 22/1/2003. It was not found genuine for the reason that the assessee has no relationship with the donor Ramnik and accordingly, there was no reason for giving gift for natural love and affection and further, there was no past savi .....

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