Delhi couple gets relief in ₹2.25 crore Black Money Act case after ITAT examines Singapore, BVI bank credits

The Income Tax Appellate Tribunal (ITAT), Delhi, has deleted ₹2.25 crore in additions made under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, giving full relief to a Delhi couple whose names were linked to foreign companies and bank accounts in the British Virgin Islands and Singapore.The ITAT Delhi H Bench, in an order dated August 6, 2026, dismissed the Income Tax Department’s appeals against Nimit Rai Tiwari and Ankita Rai Tiwari. It also deleted the remaining commission-income addition and consequential penalty against Ankita Tiwari.Why the Income Tax Department added ₹2.25 crore as undisclosed foreign incomeThe case concerned two foreign companies—Suncell Holding