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of <h1>Tribunal affirms tax authority's decision on non-genuine gifts, assesses fail to prove donors' creditworthiness</h1> <h3>Sushil Kumar Jain & Mukesh Kumar Ranka Versus Assistant Commissioner of Income Tax Circle 1 (1), Ujjain</h3> Sushil Kumar Jain & Mukesh Kumar Ranka Versus Assistant Commissioner of Income Tax Circle 1 (1), Ujjain - TMI Issues involved: Appeal against orders passed by Commissioner of Income Tax (Appeals) regarding addition of gifts received during respective years.Summary:The appeals were filed by different assesses against orders passed by the Commissioner of Income Tax (Appeals) regarding the addition of gifts received during the respective years. The Assessing Officer observed that the gifts received were not genuine as the sources and creditworthiness of the donors were not established. The assessee failed to produce the donors for examination, and it was noted that the gifts were received from individuals not related to the assessee. The Commissioner of Income Tax (Appeals) confirmed the Assessing Officer's decision, stating that the donors' capacity to give such gifts was not proven, and the transactions seemed suspicious. The assesses were involved in real estate business, which raised concerns about unexplained cash availability. Despite the assessee producing one of the donors during the appellate proceedings, it was found that the donor was not capable of giving the alleged amount of gift. The lower authorities' findings regarding the genuineness of the gifts and the creditworthiness of the donors were upheld, leading to the dismissal of all appeals by the assesses.In conclusion, the Tribunal upheld the decision of the lower authorities, dismissing all appeals of the assesses regarding the addition of gifts received during the respective years.
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