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Genuineness of a gift transaction depend on immediate source of gift
Case Law Details
- Case Name
- Shri Avnish Kumar Singh Vs ITO (ITAT Agra)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
RELEVANT PARAGRAPH
7. Parties are heard arid their rival submissions considered. The following facts are not in dispute: a) the identity of the donor is not in doubt; b) gift is by a declaration deed; c) donor has given an affidavit affirming the making of the gift; d) there is a confirmation through post of gift per Demand Draft; e) affirmation of the assessee in examination on oath recorded by A.0 f) affirmation of the donor in examination on oath recorded; g) direct reply of the donor to the A.O confirming the gift; h) donor is stated to be a friend of assessee’s father; i) donor was ...
