Law:

Section:

Section 143 of the Income-tax Act, 1961 - Assessment - Additions to income - Assessment year 1993-94 - Assessee HUF derived income from house property, capital gains and income from other sources - During assessment proceedings, Assessing Officer noticed an entry of a certain sum which was claimed to have been received as a gift from one 'S' - Suspecting genuineness of said gift, Assessing Officer made certain enquiries and noticed that signatures of 'S' on passport, affidavit filed in support of gift and gift deed were not tallying - Moreover, an information was received by Assessing Officer that 'S' had sent a letter to Directorate of Enforcement, wherein he had denied having made any gifts to anyone in India - Assessee was confronted with said communication from 'S' - Assessee filed a letter stating that once gift is complete, donor has no option to change his mind and cannot revoke gift, and further, gift in question being supported by a proper gift deed with supporting affidavit, duly executed by donor and accepted by donee, was complete in every respect - Not being satisfied with explanation, Assessing Officer treated said amount as unexplained cash credit and added same to total income of assessee, being undisclosed income - On appeal, Commissioner (Appeals) affirmed additions made by Assessing Officer and Tribunal affirmed orders of Commissioner (Appeals) - Whether since claim of gift was made by assessee onus lied on him not only to establish identity of person making gift but also his capacity to make a gift and that it had actually been received as a gift from donor - Held, yes - Whether a mere identification of donor and showing movement of gift amount through banking channels is not sufficient to prove genuineness of gift - Held, yes - Whether, therefore, impugned order of Tribunal did not give rise to any substantial question of law - Held, yes FACTS The assessee, assessed in the status of an HUF, derived income from house property, capital gains and income from other sources. During the course of assessment proceedings, the Assessing Officer noticed an entry of a certain sum, which was claimed to have been received as a gift from one 'S'. The…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492