https://www.taxtmi.com/caselaws?id=406136 The Tribunal remanded the case back to the Assessing Officer (AO) for fresh adjudication regarding the addition of undisclosed interest income from foreign bank accounts. The Commissioner of Income Tax (Appeals) had deleted the addition, citing a previous ruling in favor of the assessee. The Tribunal directed the AO to verify the closure of the foreign bank accounts and make additions only if concrete evidence supported it. The Revenue's appeal was allowed for statistical purposes, and the matter was to be reconsidered based on verified facts rather than presumption. en-us Wed, 31 Mar 2021 00:00:00 +0530 Wed, 07 Apr 2021 09:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406136 The Tribunal remanded the case back to the Assessing Officer (AO) for fresh adjudication regarding the addition of undisclosed interest income from foreign bank accounts. The Commissioner of Income Tax (Appeals) had deleted the addition, citing a previous ruling in favor of the assessee. The Tribunal directed the AO to verify the closure of the foreign bank accounts and make additions only if concrete evidence supported it. The Revenue's appeal was allowed for statistical purposes, and the matter was to be reconsidered based on verified facts rather than presumption. Case-Laws Income Tax Wed, 31 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406136