2017 (11) TMI 1610

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....eal No. 143(D) of 2010. After the removal of the defect the appeal has been numbered as regular appeal No. 20 of 2017. During the aforesaid period the appeal was dismissed for want of prosecution, however, the restoration application has been allowed vide order dated 12.2.2016 and it is only on 24.3.2017 the appeal is admitted on question Nos. 3 and 5 as raised in the memo of appeal. The coordinate bench has admitted the appeal on question No.3 and 5, which are quoted hereinbelow : "3. Whether the Tribunal could have ignored the findings recorded by the First Appellante Court to come to a different conclusion that the assessee had failed to discharge the burden of explaining the gift, when the identity of the donors was duly pro....

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....u Sharma Rs.2,00,000/- 5 Phool Singh Rs.2,00,000/- 6 Munish Chandra Rs.2,00,000/-   Total Rs.19,02,000/-   It is noticed by the assessing authority that the appellant has simply filed the copy of the statement of incoming and outgoing of the gifts. It is further noticed that Smt. Dropati Devi has shown the opening cash balance in hand is on 1.4.2000 as Rs. 9,32,000/- and the receipt from the sale of potato has been shown as Rs. 4,40,960/-. Out of the aforesaid amount Smt. Dropati Devi has gifted a sum of Rs. 10,00,000/- (Ten Lacs) to the appellant/assessee. It is also noticed by the assessing authority that Smt. Dropati Devi expired on 11.7.2002 as per death certificate placed by the assessee/ap....

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....y reached to the conclusion that the gifts are not genuine as such has rejected the claim. With regard to the other persons namely Munees Saxena, the assessing authority has reached to the conclusion that though he has shown that the amount was given by the crossed check of an amount of Rs. 2,00,000/-, it is transpired that the same was credited in the appellant's account by transfer and it is not by clearing. Thus the fact clearly indicates that the admission by the Munees Saxena is different than the actual transaction. Similarly the creditworthiness of other persons namely Phool Singh and Raju Sharma were also disbelieved by the assessing authority as the gifts were not found genuine as such the same were unexplained deposit of....

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.... We have heard learned counsel for the appellant and learned counsel representing the revenue. We have noticed that the unexplained deposits a huge amount of Rs. 19,02,000/- allegedly/stated to have been received as gift by the appellant. The assessing authority has examined the alleged gifts by calling for the record from the bank namely relevant passbooks as well as has also issued the notices to the persons allegedly gifted the money to the appellant. The assessing authority has concluded that the gifts were not found genuine as the donors were very petty persons having no source to gift such a heavy amount to the appellant. The assessing authority has further inquired into the matter with regard to the gift of Rs. 10 lacs by Smt. Dro....