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In the instant case, AO opined that credits found in HSBC Bank, Geneva is undisclosed to Indian Income-tax department and accordingly made addition. Aggrieved by the addition made by AO the assessee preferred appeal before CIT and CIT(A) deleted addition made by the AO towards credits found in HSBC Bank account. According to assessee The AO, without carrying out any independent enquiry to ascertain the fact that the deposits in HSBC Bank, Geneva is having nexus to Indian income, made addition only on the basis of base note which is unverified and unauthenticated. The assessee being a non resident is under no obligation to disclose his foreign accounts and assets and accordingly he never disclosed his bank account maintained in HSBC Bank, Geneva to the Indian Income-tax authorities. The AO has shifted the burden on the assessee to prove negative. According to the AO, it is for the assessee to prove that the credit found in HSBC Bank is not sourced out of income derived from India. Held that—we are of the considered view that the AO was erred in making addition towards deposits found in HSBC Bank account, Geneva u/s 69 of the Act. The Ld.CIT(A), after considering relevant facts, has rightly deleted addition made by the AO. We do not find any error or infirmity in the order of Ld.CIT(A). Hence, we are inclined to uphold the findings of Ld.CIT(A) and dismiss the appeal filed by the revenue.

Shanti Prime Publication Pvt. Ltd.

Section 9, 69, 90 of Income Tax Act, 1961—Income accrued in India—In the instant case, AO opined that credits found in HSBC Bank, Geneva is undisclosed to Indian Income-tax department and accordingly made addition.

Aggrieved by the addition made by AO the assessee preferred appeal before CIT and CIT(A) deleted addition made by the AO towards credits found in HSBC Bank account.

According to assessee The AO, without carrying out any independent enquiry to ascertain the fact that the deposits in HSBC Bank, Geneva is having nexus to Indian income, made addition only on the basis of base note which is unverified and unauthenticated. The assessee being a non resident is under no obligation to disclose his foreign accounts and assets and accordingly he never disclosed his bank account maintained in HSBC Bank, Geneva to the Indian Income-tax authorities.

The AO has shifted the burden on the assessee to prove negative. According to the AO, it is for the assessee to prove that the credit found in HSBC Bank is not sourced out of income derived from India.

Held that—we are of the considered view that the AO was erred in making addition towards deposits found in HSBC Bank account, Geneva u/s 69 of the Act. The Ld.CIT(A), after considering relevant facts, has rightly deleted addition made by the AO. We do not find any error or infirmity in the order of Ld.CIT(A). Hence, we are inclined to uphold the findings of Ld.CIT(A) and dismiss the appeal filed by the revenue.[DCIT (IT) -3 (3) (2) , MUMBAI VERSUS SHRI HEMANT MANSUKHLAL PANDYA] [2018] [7] [ITCD Online] [47] [ITAT MUMBAI]

In the instant case, AO opined that credits found in HSBC Bank, Geneva is undisclosed to Indian Income-tax department and accordingly made addition. Aggrieved by the addition made by AO the assessee preferred appeal before CIT and CIT(A) deleted addition made by the AO towards credits found in HSBC Bank account. According to assessee The AO, without carrying out any independent enquiry to ascertain the fact that the deposits in HSBC Bank, Geneva is having nexus to Indian income, made addition only on the basis of base note which is unverified and unauthenticated. The assessee being a non resident is under no obligation to disclose his foreign accounts and assets and accordingly he never disclosed his bank account maintained in HSBC Bank, Geneva to the Indian Income-tax authorities. The AO has shifted the burden on the assessee to prove negative. According to the AO, it is for the assessee to prove that the credit found in HSBC Bank is not sourced out of income derived from India. Held that—we are of the considered view that the AO was erred in making addition towards deposits found in HSBC Bank account, Geneva u/s 69 of the Act. The Ld.CIT(A), after considering relevant facts, has rightly deleted addition made by the AO. We do not find any error or infirmity in the order of Ld.CIT(A). Hence, we are inclined to uphold the findings of Ld.CIT(A) and dismiss the appeal filed by the revenue.

Shanti Prime Publication Pvt. Ltd.

Aggrieved by the addition made by AO the assessee preferred appeal before CIT and CIT(A) deleted addition made by the AO towards credits found in HSBC Bank account.