https://www.taxtmi.com/caselaws?id=760668 The ITAT Delhi upheld additions for undisclosed foreign bank accounts with HSBC Switzerland based on specific client profile information obtained through DTAA, despite the assessee's refusal to sign consent waiver forms required by Swiss authorities for account verification. The tribunal rejected self-incrimination arguments and drew adverse inferences from non-cooperation. However, imputed interest additions on closed foreign accounts were deleted as the account closed in 2006. Regarding unexplained jewelry investments, additions of Rs. 25,36,118 for wedding gifts were deleted due to sufficient supporting evidence, but remaining additions were confirmed for inadequately substantiated birthday gifts lacking proper documentation and details. en-us Fri, 30 Aug 2024 00:00:00 +0530 Thu, 24 Oct 2024 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760668 The ITAT Delhi upheld additions for undisclosed foreign bank accounts with HSBC Switzerland based on specific client profile information obtained through DTAA, despite the assessee's refusal to sign consent waiver forms required by Swiss authorities for account verification. The tribunal rejected self-incrimination arguments and drew adverse inferences from non-cooperation. However, imputed interest additions on closed foreign accounts were deleted as the account closed in 2006. Regarding unexplained jewelry investments, additions of Rs. 25,36,118 for wedding gifts were deleted due to sufficient supporting evidence, but remaining additions were confirmed for inadequately substantiated birthday gifts lacking proper documentation and details. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760668