https://www.taxtmi.com/caselaws?id=370606 A non-resident is taxable only on income received in India or income accruing, arising, or deemed to accrue or arise in India under section 5(2) of the Income-tax Act. Where the assessee had shown non-resident status, no Indian business connection, and no transfer of funds from an Indian account to the foreign account, deposits in a foreign bank account could not be added merely on the basis of a base note and presumptions. The burden remained on the Revenue to show that the foreign deposits had a nexus with taxable Indian income. In the absence of independent enquiry or supporting material, the addition was deleted. en-us Fri, 16 Nov 2018 00:00:00 +0530 Tue, 18 Dec 2018 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370606 A non-resident is taxable only on income received in India or income accruing, arising, or deemed to accrue or arise in India under section 5(2) of the Income-tax Act. Where the assessee had shown non-resident status, no Indian business connection, and no transfer of funds from an Indian account to the foreign account, deposits in a foreign bank account could not be added merely on the basis of a base note and presumptions. The burden remained on the Revenue to show that the foreign deposits had a nexus with taxable Indian income. In the absence of independent enquiry or supporting material, the addition was deleted. Case-Laws Income Tax Fri, 16 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370606