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Income Tax - Highlights / Catch Notes

Home Highlights April 2021 Year 2021 This

Addition u/s 69 - undisclosed foreign bank account - addition ...

Income Tax

April 7, 2021

Addition u/s 69 - undisclosed foreign bank account - addition being the peak balance - Matter remanded back to AO for adjudication of the issue afresh stating that the addition towards interest on outstanding credit balance in foreign bank account can only be made on the basis of some evidence/material. Addition cannot be simply made on the basis of presumption and surmises - AT

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