TMI Blog2018 (5) TMI 1596X X X X Extracts X X X X X X X X Extracts X X X X ..... , she had brought on record the bank statement & PAN of her daughter. Therefore, assessee has discharged her part of duty. The sum received as gift from a close relative who was man of means and who had also confirmed the said transaction, could not be added as cash credit - See CIT Vs. Dr. Kodela Siva Prasada Rao [2013 (1) TMI 232 - ANDHRA PRADESH HIGH COURT] - Decided in favour of assessee - ITA No. 81/Hyd/2017 - - - Dated:- 23-5-2018 - Smt P. Madhavi Devi, Judicial Member And Shri S. Rifaur Rahman, Accountant Member Assessee by : Shri S. Rama Rao Revenue by : Ms. Geetindar Mann ORDER Per S. Rifaur Rahman, A. M. This appeal filed by the assessee is directed against the order dated 10/10/2016 of CIT(A) 6, Hyd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me. A perusal of her bank account with HDFC Bank, Banjara Hills branch, revealed that deposits were made on following dates: S. No. Date Amount 1. 28/07/2009 5,00,000/- 2. 03/08/2009 5,00,000/- 3. 24/09/2009 4,00,000/- 4. 25/09/2009 49,000/- 4. 03/10/2009 2,00,000/- Total 16,49,000/- 2.3 The AO observed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ounds of appeal: 1. The order of the ld. CIT(A) is erroneous both on facts and in law. 2. The ld. CIT(A) erred in confirming the addition of ₹ 17,00,000/- made by the AO u/s 68 of the Act without properly considering the facts placed before the CIT(A). 3. Any other ground or grounds that may be urged at the time of hearing. 5. Ld. AR submitted that the AO erred in making an addition of ₹ 17,00,000/- towards gifts received from the assessee s daughter through electronic transfer of funds directly to her account even though the source of gifts and also the source has been explained. Further, he submitted that the assessee has submitted all the information to establish the identity, relationship, financial ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from them even though the same was not necessary or the same was not the part of the assessee to submit. Finally, he submitted that the assessee had discharged the onus of proving the identity, credit worthiness and genuineness of the gifts and accordingly the gifts received from daughter out of natural love and affection cannot be added to the income as unexplained credits under section 68 of the Income Tax Act, 1961, which may please be deleted. 6. Ld. DR, on the other hand, relied on the orders of revenue authorities. 7. Considered the rival submissions and perused the material on record. The assessee has received gift from her daughter. The AO has verified the details of this transaction by asking the assessee to file the bank st ..... X X X X Extracts X X X X X X X X Extracts X X X X
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