https://www.taxtmi.com/caselaws?id=67952 Interest earned on non-resident external accounts was treated as exempt under section 10(4A) for the assessment year 1981-82, because the depositors had acted on assurances that the interest would be tax-free. The Revenue's reliance on the later amendment effective from 1 April 1982 was rejected as not defeating the promised exemption for the relevant year. The Tribunal applied promissory estoppel against the Government and held that the Revenue could not interpret the provision so as to negate the assurance on which the assessee had relied. en-us Sat, 29 Nov 1986 00:00:00 +0530 Tue, 15 Mar 2011 18:08:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67952 Interest earned on non-resident external accounts was treated as exempt under section 10(4A) for the assessment year 1981-82, because the depositors had acted on assurances that the interest would be tax-free. The Revenue's reliance on the later amendment effective from 1 April 1982 was rejected as not defeating the promised exemption for the relevant year. The Tribunal applied promissory estoppel against the Government and held that the Revenue could not interpret the provision so as to negate the assurance on which the assessee had relied. Case-Laws Income Tax Sat, 29 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67952