Radhey Shyam Bhatia v. Commissioner of Income-tax - 2015-LL-0218-6

Citation	2015-LL-0218-6
Appellant Name	Radhey Shyam Bhatia
Respondent Name	Commissioner of Income-tax
Court	HIGH COURT OF ALLAHABAD
Relevant Act	Income-tax
Date of Order	18/02/2015
Judgment	View Judgment
Bot Summary:	JUDGMENT The judgment of the court was delivered by Dr. Satish Chandra J.-The present appeal is filed by the assessee against the impugned order dated March 9, 2007, passed by the Incometax Appellate Tribunal, Delhi in I. T. A. No. 448/Del/2006 for the assessment year 2002-03. The brief facts of the case are that during the assessment year under consideration, the assessee has shown that his minor children, namely, Vrinda and Krishna had received following gifts: Amount in Name of donor Relation Rs. Shri Rajan Kr. Assessee s cousin 51,000 Malhotra brother Shri Bhimsen Assessee s phoofa 1,20,000 Malhotra Assessee s cousin Shri Bharat Bhatia 1,50,000 brother Shri Vishveshwar Assessee s phoofa 50,000 Dayal Total 3,71,000 The Assessing Officer has rejected the gifts. Not being satisfied, the assessee has filed the present appeal. After hearing the rival submissions and on perusal of material available on record, it appears that all the donors are in relation of the assessee and the gifts were made out of love and affection. The details of each donor's return was produced before the Assessing Officer, as all the donors were the income- tax assessees. All the ingredients of valid gifts have been proved in the instant case. In the result, the appeal filed by the assessee is allowed at the admission stage.

JUDGMENT judgment of court was delivered by Dr. Satish Chandra J.-The present appeal is filed by assessee against impugned order dated March 9, 2007, passed by Incometax Appellate Tribunal, Delhi (Meerut camp) in I. T. A. No. 448/Del/2006 for assessment year 2002-03. brief facts of case are that during assessment year under consideration, assessee has shown that his minor children, namely, Vrinda and Krishna had received following gifts: Amount in Name of donor Relation Rs. Shri Rajan Kr. Assessee s cousin 51,000 Malhotra brother Shri Bhimsen Assessee s phoofa 1,20,000 Malhotra Assessee s cousin Shri Bharat Bhatia 1,50,000 brother Shri Vishveshwar Assessee s phoofa 50,000 Dayal Total 3,71,000 Assessing Officer has rejected gifts. However, Commissioner of Income-tax (Appeals) has accepted gifts and deleted addition. But in second appeal filed by Department, Tribunal has restored order passed by Assessing Officer. Not being satisfied, assessee has filed present appeal. After hearing rival submissions and on perusal of material available on record, it appears that all donors are in relation of assessee and gifts were made out of love and affection. details of each donor's return was produced before Assessing Officer, as all donors were income- tax assessees. When it is so then creditworthiness is proved. amount was reflected in books of account. Thus, in instant case, identity of donors has been proved. transfer of amount was voluntarily and amount was transferred by way of entries, so genuineness of transaction has been proved. Hence, in peculiar facts and circumstances of case, gifts appears genuine. Also by looking to amount involved, we accept gift as genuine. All ingredients of valid gifts have been proved in instant case. In view of above, we find no reason to interfere with order passed by first appellate authority and same is hereby sustained along with reasons mentioned herein. impugned order passed by Tribunal is hereby set aside. In result, appeal filed by assessee is allowed at admission stage. *** Radhey Shyam Bhatia v. Commissioner of Income-tax

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