acceptance of the gift, be it not onerous and
that there must be some evidence to show that
the gift was accepted during the life ... Bhandaram
to repudiate the gift in itself shows that the deed
of gift was duly accepted by the Bhandaran.
26. The High Court rightly held
post the search, the respondent/assessee had again confessed and
accepted that the gifts were bogus and should be considered as undisclosed
income ... Respondent/assessee with this unaccounted turnover could have bought the
gifts as was accepted by him on two occasions. Interestingly, the
respondent/assessee to justify
Cen.Pub.Information Officer,Sci . vs Subhash Chandra Agarwal on 13 November, 2019
Author: Sanjiv
vide
judgment and decree dated 17 th December 1997, while accepting
that the gift deed was a registered document, held that the
document ... executed by Hardei, did not sign the same as
token of acceptance. The gift deed was registered with the
Civil Appeal No. 364/2022 Page
Commissioner of Income Tax (Appeals) had also expressed doubts, but
had accepted the gift in view of the documents filed by the assessee.
The Tribunal ... with the contention raised by the
appellant-assessee that the gift should be accepted as genuine because
under Section
gift to be effective and
valid there has to be acceptance of the gift by or on behalf of the
donee. Gift of a movable ... which the contention of the assessee on genuineness of the gift was
accepted. These decisions, namely CIT versus R.S. Sibal, ITA
No.264/2003
gift, a mother becomes
CS(OS) No.119/2007 Page No.8
the owner of that money/property in her own right. A gift made ... daughter a benami owner. After a
gift is made and accepted, money or gift made is the property of the
recipient. Donor ceases to have
defined and used in Section 48 .
13. We find it difficult to accept the said contention. Section 48 uses
two expressions "cost of acquisition ... gift, will or succession, trust etc. and improvement was made by the
previous owner.
14. If the contention of the Revenue is accepted, then benefit
Gudar Sah group) had
filed an affidavit dated 17th January, 1968 accepting the case of
Krishna Kant Prasad. Further, Rajinder Prasad, second son of Late ... affidavit and deed of relinquishment (Ladavi) dated
19.9.1967 accepting/stating that the suit land was gifted to Krishna
Kant Prasad. It is correct that these
something
earned and the payments were merely a gift and a windfall. These were
gifts of a voluntary or gratuitous nature, without any quid ... qualify anything as a gift. Thus, all what comes in is
not income and gifts are not income. Gifts, it was observed, were
