MUKESH SHAW Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) Heard teamed counsel for the panics.

(2.) This appeal is directed against the order dated 205.2010 passed by Income Tax Appellate Tribunal, Circuit Bench, Ranchi, (hereinafter referred to as ITAT) in I.T.A. No. 29/Ran/2009 for the assessment year 2005-06, by which ITAT has partly allowed the appeal vide order dated 20"' May, 2010. The A.O. in the assessment order has made addition of Rs. 8 lakhs in the income of the assesses, for which contention of the assessee was that the said amount was received in cash by the assesses as gift from his father-in-law, B. N. Sahu. His contention is that he received the amount in cash in the following manner: <FRM>JUDGEMENT_1496_TLJHAR0_2011_1.html</FRM>

(3.) The Tribunal again considered the reasons given by the A.O. in details and thereafter held that because of the several reasons, the genuineness of the transaction is not proved and therefore, the gift cannot be recognized and the gift in fact has not been taken into effect.