SMT. SARIKA JAIN Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Heard Sri Suyuash Agarwal, learned counsel for the appellant-assessee and Sri Piyush Agarwal, learned counsel for the Revenue.

(2.) The appellant-assessee by this Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter refereed as the "Act") has challenged the order of the Income Tax Appellate Tribunal dated 20.12007.

(3.) The short question of law, which has been raised in this appeal is whether the Income Tax Appellate Tribunal was justified in adding a sum of Rs. 12,20,000/-, alleged to have been received by the appellant-assessee as gift as his income under Section 69-A of the Act after deleting the said addition as made by the Assessing Officer and confirmed by the CIT (Appeals) under Section 68 of the Act.