Court Rules Presumption Insufficient Without Concrete Evidence in HSBC Bank Account Case Under DTAA Provisions.

Court Rules Presumption Insufficient Without Concrete Evidence in HSBC Bank Account Case Under DTAA Provisions. https://www.taxtmi.com/highlights?id=47340 Addition based on foreign HSBC bank accounts - information received from French Government under DTAA - no material or evidence to say that the assessee was connected with the bank accounts in question - addition is is based on the presumption that the assessee has routed the money sourced from India through the three entities into the bank accounts in question - presumption, howsoever, strong cannot substitute an evidence - no addition en-us Fri, 21 Jun 2019 08:55:10 +0530 Fri, 21 Jun 2019 08:55:10 +0530 TaxTMI RSS Generator Court Rules Presumption Insufficient Without Concrete Evidence in HSBC Bank Account Case Under DTAA Provisions. https://www.taxtmi.com/highlights?id=47340 Addition based on foreign HSBC bank accounts - information received from French Government under DTAA - no material or evidence to say that the assessee was connected with the bank accounts in question - addition is is based on the presumption that the assessee has routed the money sourced from India through the three entities into the bank accounts in question - presumption, howsoever, strong cannot substitute an evidence - no addition Highlights Income Tax Fri, 21 Jun 2019 08:55:10 +0530 https://www.taxtmi.com/highlights?id=47340