2011 (2) TMI 151

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....nt year 1994-95, claiming following substantial questions of law:-   "i) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was right in law in deleting the addition of Rs.2,20,000/- made by the Assessing Officer on account of bogus NRE gift of Rs.2,00,000/- shown by the assessee along with the amount of premium paid @ 10% for arranging the said bogus gift as the alleged donor Sh. Sanjeev Gupta had himself informed the Enforcement Officer vide his letter dated 11.3.96 that NRE account in his name had been opened fraudulently by Sh. Rakesh Batra, C.A. which was misused for distributing bogus NRI gifts to various beneficiaries including the assessee?   ii) That the assessee failed to prove the genuineness ....

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....nafter referred to as "the CIT(A)"] vide order dated 18.11.2003 affirmed the addition made by the Assessing Officer. On further appeal by the assessee, the Tribunal vide order dated 22.9.2005 allowed the appeal and deleted the aforesaid addition. Hence, the present appeal by the revenue.   3. We have heard learned counsel for the parties. 4. The point for consideration in this appeal is whether the alleged gift received by the respondent-assessee from a Non-resident Indian with whom the assessee had no relationship, was a genuine gift or not?   5. The aforesaid issue is no longer res integra. This Court in a recent judgment passed in ITA No. 392 of 2005 (The Commissioner of Income Tax, Faridabad v. Sh. Kamal Gupta) decided on 2....