https://www.taxtmi.com/caselaws?id=773091 ITAT Mumbai set aside CIT(A)'s order for non-compliance with Rule 46A regarding additional evidence, remanding unexplained foreign asset investment issue to AO for fresh adjudication. Penalty under section 271(1)(c) was deleted as underlying additions were set aside. Long term capital gains taxation was remanded pending resolution of AY 1997-98 assessment. Addition of interest income in assessee's hands was deleted as it was already taxed in father's assessment. Unexplained deposits in foreign bank account were deleted, confirming CIT(A)'s finding that amounts represented maturity proceeds from earlier deposits sourced from father's earnings. en-us Wed, 30 Apr 2025 00:00:00 +0530 Mon, 16 Jun 2025 16:17:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773091 ITAT Mumbai set aside CIT(A)'s order for non-compliance with Rule 46A regarding additional evidence, remanding unexplained foreign asset investment issue to AO for fresh adjudication. Penalty under section 271(1)(c) was deleted as underlying additions were set aside. Long term capital gains taxation was remanded pending resolution of AY 1997-98 assessment. Addition of interest income in assessee's hands was deleted as it was already taxed in father's assessment. Unexplained deposits in foreign bank account were deleted, confirming CIT(A)'s finding that amounts represented maturity proceeds from earlier deposits sourced from father's earnings. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773091