2011 (8) TMI 847

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....unal was justified in deleting the addition of Rs.54 lakhs made in the hands of the assessee is the question raised in this appeal.   2. The assessee Smt.Thakurdevi S. Bajaj (since deceased-represented by her son) was owner of a property at Khetwadi, Mumbai. The said property consisted of several tenants including a firm known as Khemraj Shrikrishnandas consisting of two partners, namely t....

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....he assessing officer. On further appeal filed by the assessee, the Income Tax Appellate Tribunal held that it was not a case of deemed gift and accordingly decided the issue in favour of the assessee. Being aggrieved by the aforesaid order, the Revenue has filed the present appeal.   6. According to the Revenue, Rs.54 lakhs paid to the son by the assessee under a colourable device constitu....