https://www.taxtmi.com/caselaws?id=277010 The low-tax-effect bar did not apply where the Revenue's appeals fell within the CBDT exception for undisclosed foreign bank accounts, so the appeals were maintainable. On the merits, credits in a foreign bank account standing in three names had been taxed without proper apportionment, while the record also showed inadequate inquiry into the source and disclosure of the deposits. Because the first appellate order overlooked material circumstances and the assessment required deeper verification, the quantum additions and related penalty were set aside and remanded for fresh adjudication by the Assessing Officer. en-us Fri, 01 Jun 2018 00:00:00 +0530 Wed, 21 Nov 2018 21:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277010 The low-tax-effect bar did not apply where the Revenue's appeals fell within the CBDT exception for undisclosed foreign bank accounts, so the appeals were maintainable. On the merits, credits in a foreign bank account standing in three names had been taxed without proper apportionment, while the record also showed inadequate inquiry into the source and disclosure of the deposits. Because the first appellate order overlooked material circumstances and the assessment required deeper verification, the quantum additions and related penalty were set aside and remanded for fresh adjudication by the Assessing Officer. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277010