https://www.taxtmi.com/caselaws?id=782191 ITAT Rajkot allowed the assessee's appeal and deleted the addition made under s.69A read with s.115BBE. The Tribunal found that no new fixed deposit was made and no remittance occurred during the relevant year; the amount represented a mere transfer of an existing fixed deposit between branches of the same bank. The original source of the fixed deposit was established as an NRE remittance from the UK in 2015. As it was a second receipt and traceable to NRE funds, it was held not taxable in the current year or at all. en-us Mon, 28 Jul 2025 00:00:00 +0530 Wed, 26 Nov 2025 08:43:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782191 ITAT Rajkot allowed the assessee's appeal and deleted the addition made under s.69A read with s.115BBE. The Tribunal found that no new fixed deposit was made and no remittance occurred during the relevant year; the amount represented a mere transfer of an existing fixed deposit between branches of the same bank. The original source of the fixed deposit was established as an NRE remittance from the UK in 2015. As it was a second receipt and traceable to NRE funds, it was held not taxable in the current year or at all. Case-Laws Income Tax Mon, 28 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782191