SANJAY SUREKA,KOLKATA vs. D.C.I.T., CENTRAL CIRCLE - 3.3,, KOLKATA

The only issue raised by the assessee is against the addition of ₹14,59,925/- by the ld. CIT (A) as made by the ld. AO in respect of gift received as income from other sources u/s 56(2) of the Act.

The facts in brief are that a search action u/s 132 of the Act was conducted on 17 & 18th December, 2014. During the course of search several incriminating materials were seized. Notice u/s 153A of the Income-tax Act, 1961 was issued on

After hearing the rival contentions and perusing the materials available on record, I find that these gifts were made to the minor children of the assessee and his children from his and his father HUF are taxable in the hands of the assessee as according to the ld. AO in the definition of relative u/s 56(2) of the Act ,the HUF does not fall. However, in our opinion the HUF is nothing but a joint body of the family persons/co- parceners. Therefore, any money given to the minor sons from the HUF cannot be treated as not satisfying the condition of relative as defined u/s 56(2) of the Act. Consequently, I set

In the result, the appeal of the assessee is allowed.