https://www.taxtmi.com/caselaws?id=777519 ITAT MUMBAI - AT held that the assessing officer's additions for an alleged undisclosed HSBC Geneva account were unsustainable: the BUP ID referenced in the bank "base note" was a name identifier linked to an already-assessed profile, not a separate undisclosed account, and the AO erred in making substantive additions on mere presumption. Reopenings for A.Y. 2001-02 to 2005-06 were invalid as barred by limitation and cannot be revived by subsequent legislative amendment; the reassessments therefore were quashed. en-us Thu, 09 Jan 2025 00:00:00 +0530 Thu, 28 Aug 2025 10:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777519 ITAT MUMBAI - AT held that the assessing officer's additions for an alleged undisclosed HSBC Geneva account were unsustainable: the BUP ID referenced in the bank "base note" was a name identifier linked to an already-assessed profile, not a separate undisclosed account, and the AO erred in making substantive additions on mere presumption. Reopenings for A.Y. 2001-02 to 2005-06 were invalid as barred by limitation and cannot be revived by subsequent legislative amendment; the reassessments therefore were quashed. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777519