https://www.taxtmi.com/highlights?id=86584 In a case concerning alleged undisclosed foreign assets under the Black Money Act, the ITAT ruled in favor of the assessee. The Tribunal found that the AO had relied solely on uncertified documents received from a foreign government under DTAA without verifying their authenticity. The assessee had categorically denied any connection with the foreign bank accounts during sworn testimony. The ITAT emphasized that under the Banker's Book Evidence Act 1891, bank records must be properly certified to be admissible as evidence. Without authenticated copies or corroborating evidence, the revenue failed to establish the assessee's beneficial ownership of foreign assets. Consequently, the appellate order was set aside. en-us Tue, 18 Mar 2025 08:35:20 +0530 Tue, 18 Mar 2025 08:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=86584 In a case concerning alleged undisclosed foreign assets under the Black Money Act, the ITAT ruled in favor of the assessee. The Tribunal found that the AO had relied solely on uncertified documents received from a foreign government under DTAA without verifying their authenticity. The assessee had categorically denied any connection with the foreign bank accounts during sworn testimony. The ITAT emphasized that under the Banker's Book Evidence Act 1891, bank records must be properly certified to be admissible as evidence. Without authenticated copies or corroborating evidence, the revenue failed to establish the assessee's beneficial ownership of foreign assets. Consequently, the appellate order was set aside. Highlights Income Tax Tue, 18 Mar 2025 08:35:20 +0530 https://www.taxtmi.com/highlights?id=86584