https://www.taxtmi.com/caselaws?id=456733 ITAT Hyderabad allowed the appeal of a non-resident assessee who derived income from services rendered outside India. The case involved validity of assessment under sections 147 and 144, where the assessee couldn't initially provide verifiable sources for property acquisition investment due to insolvency proceedings against the financier. DRP sustained the addition citing lack of evidence regarding loan credit dates and payments. However, ITAT accepted additional evidence obtained from successor entities after DHFL's insolvency, finding it improper to dismiss a meritorious case without opportunity. The matter was remanded to AO for verification and fresh consideration. en-us Wed, 10 May 2023 00:00:00 +0530 Sat, 10 Aug 2024 18:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456733 ITAT Hyderabad allowed the appeal of a non-resident assessee who derived income from services rendered outside India. The case involved validity of assessment under sections 147 and 144, where the assessee couldn't initially provide verifiable sources for property acquisition investment due to insolvency proceedings against the financier. DRP sustained the addition citing lack of evidence regarding loan credit dates and payments. However, ITAT accepted additional evidence obtained from successor entities after DHFL's insolvency, finding it improper to dismiss a meritorious case without opportunity. The matter was remanded to AO for verification and fresh consideration. Case-Laws Income Tax Wed, 10 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456733