https://www.taxtmi.com/caselaws?id=419441 The Appellate Tribunal ITAT Mumbai dismissed the appellant's appeals challenging the addition of Rs. 32,60,60,000 based on a USD 7 million credit in a foreign bank account. The Tribunal upheld the Assessing Officer's decision, considering information from the Enforcement Directorate as sufficient evidence for taxation. The appellant's objections regarding incomplete investigations and ownership of the bank account were rejected, leading to the dismissal of the appeals. The decision was based on the lack of material to refute the initial findings, with the order pronounced on March 9, 2022. en-us Wed, 09 Mar 2022 00:00:00 +0530 Fri, 11 Mar 2022 08:00:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419441 The Appellate Tribunal ITAT Mumbai dismissed the appellant's appeals challenging the addition of Rs. 32,60,60,000 based on a USD 7 million credit in a foreign bank account. The Tribunal upheld the Assessing Officer's decision, considering information from the Enforcement Directorate as sufficient evidence for taxation. The appellant's objections regarding incomplete investigations and ownership of the bank account were rejected, leading to the dismissal of the appeals. The decision was based on the lack of material to refute the initial findings, with the order pronounced on March 9, 2022. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419441