No Addition for deposits in foreign bank A/c having no connection to income derived in India

DCIT Vs Hemant Mansukhlal Pandya (ITAT Mumbai) Conclusion: AO was incorrect in making addition towards deposits found in foreign bank account of assessee maintained with HSBC Bank, Geneva without establishing the fact that the said deposit was sourced out of income derived in India, when the assessee had filed necessary evidences to prove that he was a non resident since 25 years and his foreign bank account and assets did not have any connection with India and that the same have been acquired / sourced out of foreign income which had not accrued / arisen in India. Held: AO made addition towa...