Dismissing the appeal of the revenue the Tribunal held that CIT(A) recorded a finding on the basis of evidences that money was transferred in the bank account out of income earned in Abhu Dhibai, UAE as a non-resident Indian since 1976. Tribunal up held the order of the CIT(A) (AY.2006-07)
Dy. CIT v. Ganpat Singhvi (2021) 207 DTR 181 (Mum.)(Trib.)
S. 68 : Cash credits-Income from undisclosed sources-Non-Resident-Balance in bank accounts abroad-HSBC in Geneva-Addition as peak addition is held to be not valid [S. 5(2), 69]