Foreign Shares Bought in Daughter’s Name Not Unexplained When Fully Disclosed: ITAT Delhi

ITAT Delhi order on investments made in foreign shares in the names of the assessee’s minor daughters could be treated as unexplained investments u/s 69 of ITA, 1961 merely on the allegation that no separate documentary evidence of source was furnished and whether foreign tax credit claimed under sections 90/91 could be denied on the ground that Form No. 67 was allegedly not filed within the due date u/s 139(1)

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