https://www.taxtmi.com/caselaws?id=64945 The Tribunal ruled in favor of the assessees, allowing the concessional tax rate of 20% on short-term capital gains under Section 115E for Non-resident Indians. It held that short-term capital gains from the sale of equity shares qualified as investment income derived from foreign exchange assets. Additionally, the Tribunal upheld the assessment of interest income on debentures on an accrual basis but directed the exclusion of income already disclosed on a receipt basis, remitting the issue for reassessment. en-us Fri, 03 Aug 1990 00:00:00 +0530 Fri, 20 Feb 2015 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64945 The Tribunal ruled in favor of the assessees, allowing the concessional tax rate of 20% on short-term capital gains under Section 115E for Non-resident Indians. It held that short-term capital gains from the sale of equity shares qualified as investment income derived from foreign exchange assets. Additionally, the Tribunal upheld the assessment of interest income on debentures on an accrual basis but directed the exclusion of income already disclosed on a receipt basis, remitting the issue for reassessment. Case-Laws Income Tax Fri, 03 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64945