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Case Law Details

Case Name : Nanoomal Gupta Vs. ACIT (ITAT Agra)
Appeal Number : I.T.A Nos. 275 to 278/Agra/2013
Date of Judgement/Order : 26/03/2018
Related Assessment Year : 2003-04 to 2006-07
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Nanoomal Gupta Vs. ACIT (ITAT Agra)

AO observed that the assessee had shown gifts received of Rs.10,00,000/-, i.e., Rs. 5,00,000/- from Kaushalya Devi, New Delhi and Rs. 5,00,000/- from Shri Shree Bhagwan, New Delhi. The AO required the assessee to furnish the complete details of the donors, their copies of accounts, date and mode of receipt of the gifts and confirmations and to justify the gifts in terms of the identity of the donors, their creditworthiness and the genuineness of the gifts. However, since as per the assessment order, the required details were not filed, the AO added the entire amount of Rs. 10,00,000/- to the income of the assessee as unexplained under section 68 of the IT Act.

The ld. CIT(A) confirmed the assessment order.

We have heard the parties and have perused the material on record. The ld. Counsel for the assessee has contended that the ld. CIT(A) has erred in confirming the addition wrongly made under section 153A of the Act, without there being any adverse material on record against the assessee; that since the assessee had no business income, no books of account were maintained and the addition was made only on the basis of the assessee’s pass book, which is not a book of account; that as such, the addition made under section 68 of the Act is not sustainable. In this regard, reliance has been placed on the following case laws:

(i) ‘CIT vs. Bhaichand H. Gandhi’, 141 ITR 67 (Bombay)

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