Monday, March 18, 2013

Genuineness of gifts proved by assessee- No addition can be made All the donors

 

Genuineness of gifts proved by assessee- No addition can be made

All the donors appeared before the Department, and submitted material including affidavits on oath, confirmed the gifts made, established their old relations with the assessee and proved their capacity to make the gifts and they personally appeared before the AO, thus, there was no doubt in genuineness of gift. ­

Vide Commissioner of Income Tax v. Ms. Mayawati (2012) 43 (I) ITCL 474 (Del-HC)

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