2015 (8) TMI 420

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....ndent JUDGMENT Dr. Satish Chandra J.- 1. The present appeal is filed by the assessee against the impugned order dated March 9, 2007, passed by the Income- tax Appellate Tribunal, Delhi (Meerut camp) in I. T. A. No. 448/Del/2006 for the assessment year 2002-03. 2. The brief facts of the case are that during the assessment year under consideration, the assessee has shown that his minor children,....

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.... are in relation of the assessee and the gifts were made out of love and affection. The details of each donor's return was produced before the Assessing Officer, as all the donors were the Income-tax assessees. When it is so then the creditworthiness is proved. The amount was reflected in the books of account. Thus, in the instant case, the identity of the donors has been proved. The transfer ....