The assessee is a non-resident since AY. 2001 -02 .The assessee is working an employee in Belgium and has no business communication in India or outside India and source of income are only those which are disclosed to the tax authorities . \u00a0The assessment of assessee was reopened on the basis \u00a0of \u2018base note\u2019 of the assessee in HSBC account being USD 67421 , translated to Rs . 30,33.945 added as income deemed to accrue or\u00a0 arise in India for which the assessee has not offered any explanation about\u00a0 the\u00a0 source and nature thereof .\u00a0 On appeal the CIT(A) deleted the addition following the judgement of the Tribunal in the case of \u00a0Dy.CIT v. Hemant Mansuklal Pandya\u00a0 ( ITA Nos 4679& 4680\/M\/2016 dt . 18 -10-2018 (2018) \u00a0100 taxmann.com 280\/ 68 ITR 345 (Mum)( Trib)\u00a0 . On reassessment the order of the AO was affirmed . On appeal by the revenue\u00a0 dismissing the appeal the Tribunal held that\u00a0 \u2018 base note \u2018\u00a0 could have been used for income -tax in hands of the assessee only if he is resident in India . There is no deposit during the year . Accordingly the order of the CIT(A) is affirmed . The Cross objection of the assessee was dismissed as infructuous . \u00a0( ITA No. 494\/ Mum\/2021 \/ ITA No 493\/ Mum\/ 2021 \/ Co No. 155\/ Mum\/ 2021 \/ CO No. 156 \/Mum\/ 2021 dt 31-10 -2022 ) (AY. 2006 -07 , 2007 -08 )<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S. 68: Cash credits \u2013 Foreign bank deposits \u2013 HSBC account – Non -Resident \u2013 Merely on the basis of \u2018base note\u2019 addition cannot be made in the hands of non -Resident – Deletion of addition is affirmed . [ S. 5(2), 6 , 147, 148] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-30696","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Z6","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=30696"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30696\/revisions"}],"predecessor-version":[{"id":30697,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30696\/revisions\/30697"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=30696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=30696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=30696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}