COMMISSIONER OF INCOME TAX Vs. ARUN KUMAR KOTHARI

JUDGEMENT

(1.) Heard learned counsel for the parties.

(2.) The Revenue has preferred this Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 challenging the order dated 30th September, 2009 of Income Tax Appellate Tribunal, Jaipur Bench 'B', Jaipur, whereby Tribunal, while, dismissing the appeal of the Revenue affirmed the order of Commissioner of Income Tax (Appeals) deleting the addition of Rs.30 Lacs made by the Assessing Officer, on account of unexplained gifts.

(3.) Briefly stated, the facts of the case are that the Assessing Officer vide its Assessment Order dated 10th November, 2008 relating to Assessment Year 2006-07 disallowed the three gifts received by Assessee from his brothers amounting to Rs.30 Lacs on the ground that the Assessee has not proved the creditworthiness of the gifts and the same have been given on account of love and affection and further that there was no occasion for giving the gifts. Consequently, Assessing Officer added the said amount of gifts as income and levied the income tax on the same.