https://www.taxtmi.com/caselaws?id=296537 The Court held that undisclosed foreign investments cannot be taxed twice in different assessment years, leading to the deletion of additions made by the assessing officer. The addition of interest income on undisclosed funds was deemed unsustainable due to lack of corroborative evidence. With the demise of the Respondent, appeals were found not maintainable. The addition of unexplained jewellery was rejected as the declared jewellery in wealth tax returns exceeded the amount found during the search. Consequently, the Court dismissed the appeals and pending applications for lack of substantial legal questions. en-us Mon, 22 Feb 2021 00:00:00 +0530 Tue, 27 Jul 2021 08:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296537 The Court held that undisclosed foreign investments cannot be taxed twice in different assessment years, leading to the deletion of additions made by the assessing officer. The addition of interest income on undisclosed funds was deemed unsustainable due to lack of corroborative evidence. With the demise of the Respondent, appeals were found not maintainable. The addition of unexplained jewellery was rejected as the declared jewellery in wealth tax returns exceeded the amount found during the search. Consequently, the Court dismissed the appeals and pending applications for lack of substantial legal questions. Case-Laws Income Tax Mon, 22 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296537