https://www.taxtmi.com/caselaws?id=450419 The ITAT Delhi ruled on two issues concerning an assessee. First, regarding undisclosed foreign bank deposits where the assessee was joint holder with her husband, the tribunal found her claim of no knowledge about the account and marital disputes required verification. The matter was remanded to the AO for fresh consideration to ensure natural justice. Second, concerning credit card payments treated as perquisites under section 17(2)(iv), the tribunal held that since the assessee proved expenses were business-related for the company where she was director, the payments should not be treated as perquisites. The addition was deleted. en-us Thu, 29 Feb 2024 00:00:00 +0530 Tue, 05 Mar 2024 08:57:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450419 The ITAT Delhi ruled on two issues concerning an assessee. First, regarding undisclosed foreign bank deposits where the assessee was joint holder with her husband, the tribunal found her claim of no knowledge about the account and marital disputes required verification. The matter was remanded to the AO for fresh consideration to ensure natural justice. Second, concerning credit card payments treated as perquisites under section 17(2)(iv), the tribunal held that since the assessee proved expenses were business-related for the company where she was director, the payments should not be treated as perquisites. The addition was deleted. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450419