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NRI Bank Deposit through Foreign Remittance Not Taxable Income: ITAT Jaipur
Case Law Details
- Case Name
- Ravindra Gaur Vs ITO (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Jaipur
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Ravindra Gaur Vs ITO (ITAT Jaipur)
The Income Tax Appellate Tribunal (ITAT) Jaipur has ruled in favor of Ravindra Gaur, a senior citizen and Non-Resident Indian (NRI), directing the Income Tax Officer (ITO) to delete an addition of Rs. 86,00,000/- to his income. The case originated from information held by the Assessing Officer (AO) regarding a significant cash deposit in Gaur’s bank account. However, the ITAT found that the account in question was a Non-Resident External (NRE) account, into which Indian Rupees cash deposits are not permitted, only foreign currency. The ...
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