Gift Tax - If I return the gift to the donor within the same tax year, does the donor need to pay gift tax?

If donor A gave me 60k (above gift exemption) and later in the year I return the 60k to the donor,  do donor A need to pay gift tax? or worst I would have to pay gift tax too since IRS consider both transaction separately. 

 

 

My question is, does IRA look at net gift amount or per transaction when considering gift tax?