Suresh Kait, J.

1. The present appeal is preferred by the Revenue/Department against the order of Income Tax Appellate Tribunal (Delhi Bench) dated 30.11.2007. The facts of the instant appeal are as under:

2. The Income Tax return for the Assessment Year 200304 was filed by the Assessee on 06.08.2003 declaring total income of Rs. 13,29,090/-. The Assessee enjoys the income from salary, house property and other sources.

3. The Assessing Officer, on perusal of the return, found that during the year under consideration, the Assessee had received gifts from the following persons as per details given hereunder:

Srl. No.

Doner's Name & Address

Amount (Rs.)

Cheque No.

Date

Bank

1

Mr.Pankaj Jain R/o KD-5, Kavi Nagar, Ghaziabad

2,00,000

171816

07.12.2002

Andhra Bank, Navyug Market, Ghaziabad

2

Sh.Ajay Agarwal, R/o KF-21, Kavi Nagar, Ghaziabad

10,00,000

921359

07.12.2002

PNB, G.T.Road, Ghaziabad

3

Sh.O.P.Khadaria, R/o B1-D, DDA Flats, SFS Gulabi Bagh, Delhi

1,00,000

592985

15.01.2003

State Bank of India, University Branch, Delhi

DETAILS OF IMMOVABLE ASSETS RECEIVED

Srl. No.

Doner's Name & Address

Details of property

Date

Value (Rs.) as per Gift Deed

1

Smt.Veena Jain R/o KD-5, Kavi Nagar,