This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Deletes Unexplained Money Addition: NRI Loan Repayment Held Non-Taxable
Case Law Details
- Case Name
- Kuldeep Marwah Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Kuldeep Marwah Vs DCIT (ITAT Delhi)
Background: The assessee, Mr. Kuldeep Marwah, a permanent resident of the Republic of South Africa, was subjected to reassessment under Section 147 r.w.s. 144C(13) of the Income Tax Act, 1961, after certain high-value financial transactions were flagged under the CBDT’s Risk Management Strategy (NMS cases). These included:
Investment in mutual funds: ₹19.2 lakh
Time deposits: ₹1.3 crore
Cash deposits: ₹19.1 lakh
Closing balances in MF accounts: ₹18.93 lakh
Foreign inward remittance (u/s 195): ₹58,998
The assessee had no...
Author Info
