Case Law Details
Ananya Ajay Mittal Vs DCIT (ITAT Mumbai)
ITAT Mumbai held that income of non-resident not taxable in India merely because the status of the assessee was wrongly mentioned as resident in the original return of income.
Facts-
A search and seizure actions was carried out in the case of the assessee’s father, Shri Ajay Mittal and during the course of search action, certain documents were found which contained details of foreign bank account of the assessee, USA. It was also seen that the foreign bank account was not declared in the Income Tax Return filed by the assessee for the said assessment year.
AO has taxed the entire credit noticing that in the foreign bank account u/s 68 by holding that the so called explanation given that it was gift from a family friend resident of USA did not fall within section of 56(2)(v).
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