https://www.taxtmi.com/caselaws?id=464831 ITAT held that additions treating peak foreign-bank balance of an offshore family trust as assessee's undisclosed income were unsustainable and deleted them. The Tribunal found no evidence that the assessee or family sourced or received the trust funds, accepted trust deed, beneficiary list, Swiss tax correspondence and affidavits showing non-resident origins and beneficiaries, and concluded accounts were for non-residents. Separately, an addition of Rs. 57,00,000 paid to the assessee's nephew was deleted after the assessee proved payment from HUF funds pursuant to the decedent's will and provided supporting affidavit and bank evidence. en-us Fri, 30 May 2025 00:00:00 +0530 Fri, 14 Nov 2025 18:05:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464831 ITAT held that additions treating peak foreign-bank balance of an offshore family trust as assessee's undisclosed income were unsustainable and deleted them. The Tribunal found no evidence that the assessee or family sourced or received the trust funds, accepted trust deed, beneficiary list, Swiss tax correspondence and affidavits showing non-resident origins and beneficiaries, and concluded accounts were for non-residents. Separately, an addition of Rs. 57,00,000 paid to the assessee's nephew was deleted after the assessee proved payment from HUF funds pursuant to the decedent's will and provided supporting affidavit and bank evidence. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464831