https://www.taxtmi.com/caselaws?id=767416 ITAT, Mumbai allowed the appeal, holding that disputed foreign bank deposits were made and operated by the assessee's parents from income earned abroad and therefore could not be taxed in the assessee's hands under the BMA. The Tribunal found the assessee reasonably unable to produce complete records since parents managed the accounts, and evidence (passports, birth place, business details) supported foreign source. It held the AO erred in assessing the deposits; directed deletion of additions and set aside the Ld. CIT(A) order. en-us Wed, 05 Feb 2025 00:00:00 +0530 Tue, 07 Oct 2025 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767416 ITAT, Mumbai allowed the appeal, holding that disputed foreign bank deposits were made and operated by the assessee's parents from income earned abroad and therefore could not be taxed in the assessee's hands under the BMA. The Tribunal found the assessee reasonably unable to produce complete records since parents managed the accounts, and evidence (passports, birth place, business details) supported foreign source. It held the AO erred in assessing the deposits; directed deletion of additions and set aside the Ld. CIT(A) order. Case-Laws Income Tax Wed, 05 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767416