2011 (3) TMI 1606

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Appellants by : Shri Ravi Sarda Respondent by : Shri P.K. Mitra O R D E R PER SHRI R.C. SHARMA, ACCOUNTANT MEMBER These appeals are preferred by different assesses against different orders dated 1.3.2007 passed by the learned Commissioner of Incometax (Appeals).   2. Rival contentions have been heard and record perused.. The grievance of both the assesses in both the years, und....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on, while framing the assessment u/s 153A the Assessing Officer observed that the assessee was in receipt of gifts from Devidas Satlani and Deepak Lalwani, an NRI. In terms of the statement of the assessee it was observed that the gifts were received from persons belonging to Sindhi community having no relation with the assessee. The Assessing Officer further observed that a study of the bank acco....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he gifts are not genuine for both the assessment years. On asking by the Assessing Officer the assessee could not produce the donor for examination. As per the family history prepared by the Assessing Officer as per material found during the course of search and the credits appearing in their respective bank statement, it was observed that the assessee was adopting device of taking gifts and was s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ft is ever made to the donor or their family members. Background of the case and surrounding circumstances also point out that the gifts are not genuine. By planning one can always create documents of gift deed, obtain gift by cheque etc. but this does not in any make the gift a genuine one. 4. Aggrieved by the above order of the learned Commissioner of Incometax (Appeals) for both the years, b....