https://www.taxtmi.com/caselaws?id=400103 A foreign bank account cannot be assessed under section 69A in an assessee's hands merely because the assessee's name appears as a joint holder, where contemporaneous material and supporting affidavit indicate the brother's sole ownership and no independent evidence proves beneficial ownership by the assessee. On that basis, additions for an assumed initial deposit and estimated annual returns also fail because they rest on the same unproved premise. The discussion further notes that, for periods when the assessee was non-resident or resident but not ordinarily resident, foreign income is outside the Indian charging scope to the extent recognised by section 5. The ratio stresses that conjecture cannot replace proof of ownership. en-us Thu, 10 Sep 2020 00:00:00 +0530 Wed, 28 Oct 2020 09:51:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400103 A foreign bank account cannot be assessed under section 69A in an assessee's hands merely because the assessee's name appears as a joint holder, where contemporaneous material and supporting affidavit indicate the brother's sole ownership and no independent evidence proves beneficial ownership by the assessee. On that basis, additions for an assumed initial deposit and estimated annual returns also fail because they rest on the same unproved premise. The discussion further notes that, for periods when the assessee was non-resident or resident but not ordinarily resident, foreign income is outside the Indian charging scope to the extent recognised by section 5. The ratio stresses that conjecture cannot replace proof of ownership. Case-Laws Income Tax Thu, 10 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400103