Section 69A of the Income-tax Act, 1961—Unexplained money—Addition made was deleted as source of gift, genuineness as well as creditworthiness of the donor were duly established.

Facts: The issue revolves around is a gift of Rs. 3.18 crores received by the assessee from his brother. AO did not accept the assessee's version of having received a gift and added the same as his income. Before the Commissioner (A), assessee produced additional evidence which essentially established creditworthiness of the brother to give such a sizable gift. Genuineness of the gift was not in doubt. Commissioner (A) held that the brother had sufficient means to give such a gift. Noticeably, the gift was also made through bank channels. Thus, in view of the Commissioner, the source, genuineness and creditworthiness, all the three aspects in context of the gift stood established and therefore addition was deleted. Before the Tribunal, Revenue reiterated this issue by pointing that the additional evidence was admitted by the Commissioner without giving opportunity of rebuttal to the department. The Tribunal confirmed the view of the Commissioner by giving separate reasons. Upon which the present appeal has been filed.

Held, that the perusal of the order of CIT(A) would show that after taken into account the evidence on record, the Commissioner found that the source of gift, genuineness as well as creditworthiness of the donor were duly established. The entire issue is thus based on facts. The Revenue does not seem to have raised any objection before the Commissioner regarding placing reliance on additional evidence. In any case, the documents produced by the assessee were from the department itself or in the nature of bank statements. If the Assessing Officer who was admittedly participating in the appeal proceedings wanted to rebut such evidence, he could have insisted for such an opportunity being granted. In the result, the Income Tax Appeal is dismissed. - PR. CIT V/s MUBARAK KASAM MOMIN - [2019] 9 ITCD Online 103 (BOM)