Bench: Shri Prashant Maharishi & Shri Soundararajan Ka. Y. 2015-16 Appellant Respondent Vazhoor Sudarshanan The Income Tax Officer Thampi International Taxation Vazhoor House, Ward 2 (1) T C 5/1892Valappad Bangalore Vallapad Beach Thrissur Kerala 680567 Pan Afxpt6193D For Appellant Shri Sidhesh N Gadi, Ca For Respondent Dr. Divya K J Cit Dr Date Of Hearing 19-08-2025 Date Of Pronouncement 28-08-2025

transferred on 1-10-2014 Rs 60,00,000/- in NRO Deposit Account. This was substantiated by producing the annual accounts of the companies where loan was shown as unsecured loan liability in the name of assessee, confirmation of the companies and bank statement of assessee with Federal bank. 20. Thus, assessee explained source of the deposit