https://www.taxtmi.com/caselaws?id=209360 The court upheld the Tribunal's decision that the assessee was entitled to the concessional tax rate on the interest earned from NRNR deposits under sections 115H and 115E, ultimately dismissing the department's appeal. The court emphasized that the transfer of specified assets without changing their character would not affect their identity as foreign exchange assets. Despite the assessee becoming a resident, the court held that the deposits retained their character as foreign exchange assets since they were initially acquired with convertible foreign exchange. en-us Tue, 09 Nov 2010 00:00:00 +0530 Mon, 22 Jul 2013 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209360 The court upheld the Tribunal's decision that the assessee was entitled to the concessional tax rate on the interest earned from NRNR deposits under sections 115H and 115E, ultimately dismissing the department's appeal. The court emphasized that the transfer of specified assets without changing their character would not affect their identity as foreign exchange assets. Despite the assessee becoming a resident, the court held that the deposits retained their character as foreign exchange assets since they were initially acquired with convertible foreign exchange. Case-Laws Income Tax Tue, 09 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209360