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TMI Blog2021 (6) TMI 201X X X X Extracts X X X X X X X X Extracts X X X X ..... enue : Sri Rohit Mujumdar, DR ORDER PER SMT. P. MADHAVI DEVI, J.M. This M.A.is filed by the Revenue u/s 254(2) of the I.T. Act seeking recall of the order of the Tribunal dated 23.8.2019 dismissing the Revenues appeal on account of low tax effect. The Revenue has stated as under: "Appeal filed by the Department before the Hon'ble ITAT, BBench, Hyderabad vide ITA Nos. 931/Hyd/2015 dated 23 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the following additions: a. Unexplained credits in bank account Rs. 58,72,244/- b. Unexplained investment in house Rs. 10,00,000/- c. LTCG on sale of house Rs. 39,41,156/- d. Estimated Interest income in HSBC a/c. Rs. 1,00,000/- (foreign account) 2. Aggrieved, the assessee filed an appeal before the CIT(A)- 4, Hyderabad. The CIT(A) sustained the addition of Rs. 15,52,244/- made on ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), Hyderabad, and in the absence of relevant details like bank account statement, the AO made an addition of Rs. 1,00,000/- being estimated interest income on the HSBC account. As the addition relates to undisclosed foreign bank account, the case falls under exception(d) mentioned in Para 10 of the Circular No.3/2018 dated 11.07.2018. Keeping in view of the above facts and circumstances, it is v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eposit and it was in his assessment order that it was found that his wife, the assessee before us was the joint account holder and had accordingly earned interest income therefrom. 3. The learned Counsel for the assessee further submitted that the CIT (A) has granted relief to the assessee on the ground that the assessee is only a housewife and did not have any independent source of income and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n A/c with HSBC held by the assessee jointly with her husband which was opened by his employer to deposit his salary income. Therefore, it is not an undisclosed foreign a/c of the assessee and therefore, the exception (d) to the circular will not apply. Therefore, this M.A is dismissed. 5. In the result, M.A. filed by the Revenue is dismissed. Order pronounced in the Open Court on 28th May, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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