Tribunal held that , assessee being beneficial owner of deposits in foreign bank accounts failed to disclose interest from said deposits in its return of income, reopening of assessment in case of assessee was justified. ( AY. 2005-06, 2010-11 to 2012-13 )
Ambrish Manoj Dhupelia. v. DCIT (2018 ) 168 ITD 407 (SMC) (Mum) (Trib.)
S.147: Reassessment- Failure to disclose beneficial owner of deposits in foreign Bank accounts -Reassessment was held to be justified [ S.69 , 148 ]