Investments from NRE Accounts not taxable under Section 10(d) of Income Tax

Nitin Mavji Vekariya Vs ITO (Gujarat High Court) In the case of Nitin Mavji Vekariya versus the Income Tax Officer (ITO) before the Gujarat High Court, the court dealt with the challenge to an order issued under section 148A(d) of the Income Tax Act, 1961 for the Assessment Year 2018-19. Here’s a summary of the judgment: The petitioners, who are family members and residents and citizens of the Republic of Uganda, sought to quash and set aside the order issued under section 148A(d) of the Income Tax Act, 1961. Mr. Divatia, learned counsel for the petitioners, argued that all investments in T...