TMI Blog2022 (6) TMI 235X X X X Extracts X X X X X X X X Extracts X X X X ..... 2000 and 2008-09, but the assessee claimed that the copies were given during the financial year 2011-12, and there is a clear cut time gap of more than thousand days from the date of sale and the date of alleged donation made to the assessee. The same has not been explained by the assessee before the lower authorities. Further, it is seen from the gift deed that the donor stated to have deposited the sale proceeds in private banks, but no bank passbook or income from agriculture activity has been produced before the lower authorities. The assessee has also failed to produce the donor or the witnesses before the authorities. Even before us, except gift deed, the other three documents viz. 7/12 extracts, registered sale deed and latest 7/12 of the land record, which are in Gujarat language are only produced and English translation was not furnished. Hence, based on these unexplained documents we are not in a position to adjudicate the issue on hand. The ld.DR also repeated the same arguments as were made before the lower authorities, and no new documents could be furnished to establish genuineness of the gift received from Shri Narendra Maganbhai Pancholi. In the absence of the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Further, the gift deed is not a registered deed, and not even notarized by Notary Public. The assessee was requested to produce break-up of details of gift received in instalments from August, 2011 till March, 2012. The same was also not produced before the AO. Therefore, the AO treated this receipt as unexplained cash credit, an added to the total come of the assessee. Further, the assessee has also received total rent of Rs.1,56,000/- from M/s.Swadhar Finser P.Ltd. during the financial year 2011-012. However, the assessee has shown rent of Rs.1,39,100/- only in the computation of income. Therefore, the balance rent amount of Rs.16,900/- after making stand deduction of Rs.5,070/- remaining amount of Rs.11,830/- was added to the income of the assessee. The AO also initiated penalty proceedings under section 271(1)(c) of the Act for the above disallowance. Aggrieved against the same, the assessee went in appeal before the ld.CIT(A). 3. The ld.CIT(A) after hearing the case in detail, dismissed the appeal filed by the assessee as follows: 4.3. First line of argument is addition u/s 68 of the Act is invalid as bank statement is not a books of account. I reminded the Ld. AR that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etween date of sale and date of deposit happens to be more than 1000 days. The Ld. AR could not submit any reason as to what made the MAMA i.e. donor to keep cash in his hand for almost 3 years and later changed his mind to donate almost entire sale consideration of his agricultural land to his nephew i.e. the appellant. Further, the donor was 66 years old at the time of gift deed. If it so, he must have some resistance from his own son/daughter/immediate relatives to object such gift. In my considered view, gift deed is nothing but a make believe document to give a colour of genuineness, hence, cannot be relied upon. This cannot be an evidence to explain source of cash deposit in the appellant's bank account. The Ld. AR's argument that time gap in sale deed and gift deed hardly matters is not acceptable. One more thing to note is that all the unregistered sale deed pertaining to FYs 1999-2000 2008-09, the alleged sale proceeds were by A/c payee cheque, then there is no bank statement of donor produced by the appellant before the AO or before me to prove withdrawal of cash to gift to the appellant. There is no rational or logic to consider the appellant theory as palatabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upheld. 7. We have given our thoughtful consideration and perused material available on record including that of the paper book filed by the assessee. The Declaration of Gift (English translation copy) reads as follows: Today, I Shri Narendrakumar Maganlal Pancholi aged 69 years, Caste: Hindu Business: Agriculturist residing At PO Bharan, Tal.Ankleshwar, Dist. Bharuch makes this declaration of gift. I am residing at above mentioned address since many years and am engaged in agricultural activities and owns agricultural lands in village Bharan. I had sold some agricultural lands which was either self-occupied or inherited. Details of the same is as under: Sr. No. Sale Date R.S.No.-At Po Bharan Sale Value 1 26.07.1999 430 2,52,000/- 2 30.03.2008 402, 465, 797, 867 2,12,999/- 3 28.03.2008 735 2,12,000/- 4 30.03.2008 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the copies were given during the financial year 2011-12, and there is a clear cut time gap of more than thousand days from the date of sale and the date of alleged donation made to the assessee. The same has not been explained by the assessee before the lower authorities. Further, it is seen from the gift deed that the donor stated to have deposited the sale proceeds in private banks, but no bank passbook or income from agriculture activity has been produced before the lower authorities. The assessee has also failed to produce the donor or the witnesses before the authorities. Even before us, except gift deed, the other three documents viz. 7/12 extracts, registered sale deed and latest 7/12 of the land record, which are in Gujarat language are only produced and English translation was not furnished. Hence, based on these unexplained documents from pages no.13 to 19 we are not in a position to adjudicate the issue on hand. The ld.DR also repeated the same arguments as were made before the lower authorities, and no new documents could be furnished to establish genuineness of the gift received from Shri Narendra Maganbhai Pancholi. In the absence of the same, ground raised by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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