2021 (6) TMI 201

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....i Mohammed Siddiq Ali For the Revenue : Sri Rohit Mujumdar, DR ORDER PER SMT. P. MADHAVI DEVI, J.M. This M.A.is filed by the Revenue u/s 254(2) of the I.T. Act seeking recall of the order of the Tribunal dated 23.8.2019 dismissing the Revenues appeal on account of low tax effect. The Revenue has stated as under: "Appeal filed by the Department before the Hon'ble ITAT, BBen....

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....rmining the taxable income of the assessee at Rs. 1,09,13,600/- by making the following additions: a. Unexplained credits in bank account Rs. 58,72,244/- b. Unexplained investment in house Rs. 10,00,000/- c. LTCG on sale of house Rs. 39,41,156/- d. Estimated Interest income in HSBC a/c. Rs. 1,00,000/- (foreign account) 2. Aggrieved, the assessee filed a....

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....2018 dated 11. 07.2018, the details of which are as follows: Based on the information received from the Addl. DIT(Inv), Hyderabad, and in the absence of relevant details like bank account statement, the AO made an addition of Rs. 1,00,000/- being estimated interest income on the HSBC account. As the addition relates to undisclosed foreign bank account, the case falls under exception(d) me....

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.... submissions stating that the assessee's husband had an a/c with HSBC Bank which was opened by his employer for the purpose of salary deposit and it was in his assessment order that it was found that his wife, the assessee before us was the joint account holder and had accordingly earned interest income therefrom. 3. The learned Counsel for the assessee further submitted that the CIT (A) has gr....