https://www.taxtmi.com/caselaws?id=767133 ITAT Ahmedabad ruled on additions made to assessee's NRE bank account credits. The tribunal held that AO cannot sustain additions based solely on NRE credits without proving the original source was taxable in India. Following judicial precedents, NRE deposits from foreign remittances are exempt from Indian taxation under Section 10(4). For AY 2013-14, HSBC Bank addition was deleted as it was NRE fixed deposit redemption, while HDFC and Deutsche Bank additions required further AO verification. For AY 2015-16, HDFC Bank addition was deleted being inward remittance from UK bank qualifying for exemption. Appeal for AY 2013-14 was partly allowed for statistical purposes with direction for further verification. en-us Tue, 04 Mar 2025 00:00:00 +0530 Tue, 11 Mar 2025 08:33:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767133 ITAT Ahmedabad ruled on additions made to assessee's NRE bank account credits. The tribunal held that AO cannot sustain additions based solely on NRE credits without proving the original source was taxable in India. Following judicial precedents, NRE deposits from foreign remittances are exempt from Indian taxation under Section 10(4). For AY 2013-14, HSBC Bank addition was deleted as it was NRE fixed deposit redemption, while HDFC and Deutsche Bank additions required further AO verification. For AY 2015-16, HDFC Bank addition was deleted being inward remittance from UK bank qualifying for exemption. Appeal for AY 2013-14 was partly allowed for statistical purposes with direction for further verification. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767133