2026 (4) TMI 1701

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....atel, A.R. For the Revenue : Shri Kamal Deep Singh, CIT-DR ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the Assessee as against the appellate order dated 19-06-2025 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as "CIT(A)"), arising out of the reassessment order passed under section 143(3) ....

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....ether the Ld. CIT(A) is right in law and on facts in upholding the addition of Rs. 91,24,142/- u/s 68 of the Income Tax Act disregarding the copy of gift deed as well as confirmation of accounts? 2.1. At the outset, Ld. Counsel appearing for the assessee submitted that this the very same issue of gift received by the assessee from his Father-in-Law, Shri Babubhai A. Patel in foreign currency/re....

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.......8. We have heard the rival contentions and perused the material available on record. In the present case, it is an undisputed fact that the assessee is an individual who does not maintain any books of account. The alleged credit is reflected only in the bank statement. The assessee has claimed that the amount represents a gift received from her father. The relationship between the donor and don....

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....ectures. In the peculiar facts and circumstances of the instant case, in view of the discussion above, we hold that the addition of Rs. 51,32,442/- made u/s 68 of the Act is not sustainable in law and the order passed by the Ld. CIT(A) confirming the said addition is set aside." 6. There is no change in facts of the case, except the Donor is the Father-in-Law of the assessee. Further the foreig....