https://www.taxtmi.com/caselaws?id=782421 ITAT Kolkata held that the sum of Rs. 20,00,000/- received by RTGS from an overseas HSBC account and credited in the assessee-firm's books as partner's capital could not be treated as undisclosed income. Relying on the partnership deed, balance sheet, and profit and loss account, the Tribunal found that the amount represented capital introduction by an NRI partner and was shown as a liability of the firm. The explanation for the source of funds was accepted, and the assessee's ground was allowed. en-us Tue, 29 Jul 2025 00:00:00 +0530 Sat, 29 Nov 2025 07:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782421 ITAT Kolkata held that the sum of Rs. 20,00,000/- received by RTGS from an overseas HSBC account and credited in the assessee-firm's books as partner's capital could not be treated as undisclosed income. Relying on the partnership deed, balance sheet, and profit and loss account, the Tribunal found that the amount represented capital introduction by an NRI partner and was shown as a liability of the firm. The explanation for the source of funds was accepted, and the assessee's ground was allowed. Case-Laws Income Tax Tue, 29 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782421