2008 (5) TMI 664

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.... J. The revenue is aggrieved by an order dated 22-10-2007 passed by the Income-tax Appellate Tribunal, Delhi Bench 'I' in ITA Nos. 4820/Delhi/2005; 4827/Delhi/2005; 4831/Delhi/2005; 3628/Delhi/2006; and 3629/Delhi/2006 relevant for the assessment year 2001-02. 2. According to the assessee, it is carrying on the business of a financial company and also has some agricultural income. Income-tax ret....

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....e date that is 14-9-2000. 4. According to all the three authorities below, the assessee was not able to explain the circumstances in which the gifts were received even though the documentation appears to have been meticulously prepared. The relationship that the assessee had with the donor and the creditworthiness of the donor were not established by the assessee. 5. Learned counsel for the asse....