https://www.taxtmi.com/caselaws?id=59190 Fresh verification was required on the genuineness of the Nepal company and on the true location and ownership of the assets standing in its name, because the majority found the record insufficient to decide those facts conclusively. The assessment was therefore set aside and remanded to the Assessing Officer for further enquiry and a fresh decision. The Accountant Member concurred that the existing record did not justify a final merits decision. The Judicial Member dissented, treating the Nepal company as a separate entity and holding that the foreign assets should not be included in the assessee's hands. en-us Tue, 22 Jun 1993 00:00:00 +0530 Sat, 25 Dec 2010 14:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59190 Fresh verification was required on the genuineness of the Nepal company and on the true location and ownership of the assets standing in its name, because the majority found the record insufficient to decide those facts conclusively. The assessment was therefore set aside and remanded to the Assessing Officer for further enquiry and a fresh decision. The Accountant Member concurred that the existing record did not justify a final merits decision. The Judicial Member dissented, treating the Nepal company as a separate entity and holding that the foreign assets should not be included in the assessee's hands. Case-Laws Income Tax Tue, 22 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59190