https://www.taxtmi.com/caselaws?id=773593 ITAT Delhi allowed the assessee's appeal, deleting additions made by AO regarding notional interest on HSBC Geneva account, cash found during search, and jewellery seized. The tribunal found no interest was credited to the foreign account and account maintenance fees were charged instead. Cash of INR 2,78,142 was explained through recent bank withdrawals within 30 days of search. Jewellery totaling 3619.170 grams was adequately explained through VDIS declarations, gifts, purchases, and CBDT exemptions. Consequently, penalty under section 271(1)(c) was also deleted as no concealed income remained after deletions. en-us Wed, 18 Jun 2025 00:00:00 +0530 Wed, 25 Jun 2025 09:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773593 ITAT Delhi allowed the assessee's appeal, deleting additions made by AO regarding notional interest on HSBC Geneva account, cash found during search, and jewellery seized. The tribunal found no interest was credited to the foreign account and account maintenance fees were charged instead. Cash of INR 2,78,142 was explained through recent bank withdrawals within 30 days of search. Jewellery totaling 3619.170 grams was adequately explained through VDIS declarations, gifts, purchases, and CBDT exemptions. Consequently, penalty under section 271(1)(c) was also deleted as no concealed income remained after deletions. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773593