Case Law Details
Case Name : Kailash A. Kothari Vs ITO (ITAT Mumbai)
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Mumbai
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Kailash A. Kothari Vs ITO (ITAT Mumbai)
Learned departmental representative submitted that it is abundantly clear that the said donor has no capacity to give the said gift. He submitted that in absence of the cogency of the capacity, mere declaration of gift cannot be accepted as sufficient. He further submitted that the bank statement of the donor was never produced before the authorities below. The income declared by the donor was very meagre. Hence, the learned counsel submitted that the gift has rightly be
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