https://www.taxtmi.com/caselaws?id=465331 ITAT held that no substantive or protective addition under s.69A could be sustained in respect of the alleged undisclosed HSBC Geneva account. The AO's computation of a USD 100,000 deposit and annual maintenance of USD 300 was found to be purely presumptive, based only on information "in public domain" without any corroborative material or verification of actual deposits or expenses. On facts, the assessee was merely a board member and authorised signatory for an account held by a corporate entity, not the holder or beneficial owner of any personal account. HSBC's confirmation that no such personal or beneficial account existed was accepted, and the additions were deleted. en-us Fri, 31 Jan 2025 00:00:00 +0530 Tue, 16 Dec 2025 11:39:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465331 ITAT held that no substantive or protective addition under s.69A could be sustained in respect of the alleged undisclosed HSBC Geneva account. The AO's computation of a USD 100,000 deposit and annual maintenance of USD 300 was found to be purely presumptive, based only on information "in public domain" without any corroborative material or verification of actual deposits or expenses. On facts, the assessee was merely a board member and authorised signatory for an account held by a corporate entity, not the holder or beneficial owner of any personal account. HSBC's confirmation that no such personal or beneficial account existed was accepted, and the additions were deleted. Case-Laws Income Tax Fri, 31 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465331