SHAM GULABRAI TULSYANI,DELHI vs. ACIT, INT. TAX CIRCLE 4(2)(1), MUMBAI

ITA 483/MUM/2025Status: DisposedITAT Mumbai29 July 2025AY 2007-0855 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the AO erred in reopening the assessment and making additions to the income of the assessees. The assessees were non-residents, and the income earned in foreign accounts was not taxable in India.

What were the facts?

The appeals concern the reopening of assessments for AYs 2006-07 and 2007-08. The assessees, who were British Nationals, had HSBC bank accounts opened in Switzerland in 1994. The Assessing Officer (AO) made additions based on the peak balance in these accounts, considering them as escaped income.

What were the issues?

Whether the reopening of assessment under Section 147 was valid for non-residents and if foreign income earned in overseas bank accounts is taxable in India.

Which sections of the Income-tax Act were involved?

Section 147,Section 149(1)(c),Section 6(1),Section 234A,Section 234B

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IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “I” BENCH : MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER

| ITA No. | A.Y. | Appellant | |---|---|---| | 448/Mum/2025 | 2006-07 | Pratab Gulabrai Tulsiani, C/o. Ashok Khandelwal Associates, Chartered Accountants, 912-B, Indraprakash, 21, Barakhamba Road, New Delhi-110001 [PAN: AURPT4816C] | Respondent | | 449/Mum/2025 | 2007-08 | Naraindas Gulabrai Tulsiani, C/o. Ashok Khandelwal Associates, Chartered Accountants, 912-B, Indraprakash, 21, Barakhamba Road, New Delhi-110001 [PAN: ANQPT0488C] | ACIT, Int. Tax. Circle-4(2)(1), Room No. 1708, 17th Floor, Air India Building, Nariman Point, Mumbai | | 464/Mum/2025 | 2006-07 | Sham Gulabrai Tulsyani, C/o. Ashok Khandelwal Associates, Chartered Accountants, 912-B, Indraprakash, 21, Barakhamba Road, New Delhi-110001 [PAN: ARYPT4091R] | | | 482/Mum/2025 | 2006-07 | | | | 483/Mum/2025 | 2007-08 | | | | 537/Mum/2025 | 2006-07 | Jawaharlal Gulabrai Tulsiani, C/o. Ashok Khandelwal Associates, Chartered Accountants, 912-B, Indraprakash, 21, Barakhamba Road, New Delhi-110001 [PAN: AFKPT5682G] | | | 538/Mum/2025 | 2007-08 | | |

Pratab Gulabrai Tulsiani and

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