Section 68 Addition Justified for Unexplained Gifts Received from Non-Related Donor

Meenu Jain Vs ITO (ITAT Delhi) The issue under consideration is whether the CIT (Appeals) has grossly erred in confirming the addition as made by the Assessing Officer (AO) on account of gifts u/s 68? ITAT states that it is very unusual that the person with lower economic status have given gift to the assessee. The Assessing Officer directed the assessee to produce the donor for confirmation of gift transaction vide order sheet entry dated 15.05.2007, but the assessee failed to produce the donors for confirmation of the gift transaction meaning thereby that the assessee did not discharge its o...