Credit Worthiness

Querist : Anonymous (Querist) 14 February 2010 This query is : Resolved
Dear All,

Assessee has received gift from natural love and affection from XYZ of Rs. 40000/- on 14.07.2004 and Rs. 15000/- on 10.05.2004 by DD. XYZ had given the affidavit and confirmation on the stamp paper of Rs.100/- and Rs. 20/- respectively that she had given the assessee sum of Rs. 55000/- as a gift. the Case is lying with cit(a) where the cit(a) is asking for credit worthiness of the Donee.
Can any one tell some related case laws against this.

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A V Vishal (Expert) 15 February 2010
I don't think the CIT(A) will ask for creditworthiness of a small gift of Rs.55,000/-, anyways since the said amount was received by drafts it should not be a hassle, but what is the relation between the donor & donee and what does the donor do(Sources of Income), clarify with facts of the case.

A V Vishal (Expert) 15 February 2010
1)ITO vs Mukesh Bhanubhai Shah
2)CIT vs Mrs Sunita Vachani

Kumar Thadhani (Expert) 15 February 2010
I do agree with expert Mr Vishal.

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