1986 (7) TMI 192

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....ain. The GTO was of the opinion that the assessee's only source of income was salary and remuneration. He had shown withdrawal for household expenses and thus he had a very little of capital left with him. Shri Nenmal Jain was none else but a well known smuggler called Nainmal Poonjaji to whose son the gift had been made. The assessee wash a goldsmith by cast. Smt. Anjana, mother of the child to w....

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....ft in the hands of the assessee. The said decision has been confirmed by the AAC. The assessee had come up in second appeal before us. 2. We have heard the representatives of the parties at length in this appeal. The ITO has not really doubted the making of the gift. What he has stated is that the amount probably belonged to the noted smuggler Sri Nenmal Poonjaji and was gifted to his son throu....