2010 (4) TMI 97

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.... JUDGEMENT BADAR DURREZ AHMED, J (ORAL)  The revenue is in appeal against the order dated 04.04.2008 passed by the Income-tax Appellate Tribunal in ITA No.2479/D/07 relating to the assessment year 2000-01. Two issues were raised before the Income-tax Appellate Tribunal. One was concerning the validity of the proceedings under Section 147 of the Income-tax Act, 1961 (hereinafter referred....

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....made by the mother and held the same to be unaccounted income of the assessee and made an addition of Rs 24.77 lakhs under Section 68 of the said Act. The Commissioner of Income-tax (Appeals) examined the matter and agreed with the findings of the Assessing Officer with regard to the genuineness of the gifts. According to the Commissioner of Income-tax (Appeals), the gifts were not genuine. One of....

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....nce the assessee has discharged the primary onus, which was cast upon the assessee, it was incumbent upon the Assessing Officer to prove on the basis of a cogent evidence that the transaction was not genuine. There is no such evidence forthcoming. We find that the conclusions of the Assessing Officer and the Commissioner of Income-tax (Appeals) with regard to the genuineness of the transactions ar....