When gift is not genuine, addition under section 68 is warranted

Mere identification of the donor and showing the movement of the gift amount through banking channels is not sufficient to prove the genuineness of the gift RELEVANT PARAGRAPH Brief facts of the case are that the assessee received a gift of Rs.30,00,000/- from Mrs. Chandra Hingorani. The genuineness of the gift was examined by the Assessing Officer by considering the various documents including taking statements of the assessee which was recorded on 19.12.2006. The AO noticed that the assessee is not remotely connected with the family of the donor. She has no knowledge about the family of the ...