Non-Resident Assessee Not Liable for Addition on Foreign HSBC Account u/ss 153A and 69A of Income Tax Act.

Non-Resident Assessee Not Liable for Addition on Foreign HSBC Account u/ss 153A and 69A of Income Tax Act. https://www.taxtmi.com/highlights?id=58472 Addition u/s.153A - addition u/s.69A - Assessee was the beneficial owner of the foreign bank account of HSBC Bank at Geneva - Since assessee is a non-resident, at the cost of repetition, there cannot be any addition in respect of a foreign bank account in HSBC Bank, Geneva in India either on substantive or on protective basis. - AT en-us Wed, 23 Jun 2021 17:03:22 +0530 Wed, 23 Jun 2021 17:03:22 +0530 TaxTMI RSS Generator Non-Resident Assessee Not Liable for Addition on Foreign HSBC Account u/ss 153A and 69A of Income Tax Act. https://www.taxtmi.com/highlights?id=58472 Addition u/s.153A - addition u/s.69A - Assessee was the beneficial owner of the foreign bank account of HSBC Bank at Geneva - Since assessee is a non-resident, at the cost of repetition, there cannot be any addition in respect of a foreign bank account in HSBC Bank, Geneva in India either on substantive or on protective basis. - AT Highlights Income Tax Wed, 23 Jun 2021 17:03:22 +0530 https://www.taxtmi.com/highlights?id=58472