https://www.taxtmi.com/caselaws?id=761714 Delhi HC remanded case involving addition of undisclosed income based on foreign bank account deposits. Assessee held debit card from Barclays Bank but failed to disclose deposits. AO made best judgment assessment without conducting directed enquiries. Court acknowledged AO's right to estimate in absence of bank statements but granted assessee another opportunity to produce authenticated bank statements for relevant period. Revenue consented to reconsideration. AO directed to re-examine quantum of addition based on produced statements, with existing additions subject to modification accordingly. en-us Tue, 05 Nov 2024 00:00:00 +0530 Fri, 15 Nov 2024 08:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761714 Delhi HC remanded case involving addition of undisclosed income based on foreign bank account deposits. Assessee held debit card from Barclays Bank but failed to disclose deposits. AO made best judgment assessment without conducting directed enquiries. Court acknowledged AO's right to estimate in absence of bank statements but granted assessee another opportunity to produce authenticated bank statements for relevant period. Revenue consented to reconsideration. AO directed to re-examine quantum of addition based on produced statements, with existing additions subject to modification accordingly. Case-Laws Income Tax Tue, 05 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761714