Case Law Details
ITO Vs Alkesh Pratapchandra Bhansali (ITAT Surat)
Held that there is no material/ evidence to say that the assessee was having any business connection in India. Addition unsustainable.
Facts-
AO received information that assessee (NRI) is maintaining foreign bank account with HSBC Bank, Geneva, Switzerland, with data sheet containing monthly balance in his account, received by Indian Government from French Authority.
As per information available with AO, the assessee was having peak balance in the impugned account with HSBC. The data sheet and the account extract contained personal information of the account holder. AO recorded that assessee did not furnish the account details maintained by him outside India.
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