https://www.taxtmi.com/caselaws?id=263605 The Tribunal upheld the validity of the notice issued by the Assessing Officer (AO) under section 143(2) and dismissed the jurisdiction challenge by the non-resident assessee. However, the Tribunal ruled in favor of the assessee regarding the taxability of foreign income from the sale of shares, determining that the income was not taxable in India as it accrued outside the country. Additionally, the Tribunal found that section 64 did not apply to the non-resident assessee and reversed the addition of Rs. 41,98,615, allowing the appeal. en-us Tue, 11 Aug 2015 00:00:00 +0530 Fri, 28 Aug 2015 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263605 The Tribunal upheld the validity of the notice issued by the Assessing Officer (AO) under section 143(2) and dismissed the jurisdiction challenge by the non-resident assessee. However, the Tribunal ruled in favor of the assessee regarding the taxability of foreign income from the sale of shares, determining that the income was not taxable in India as it accrued outside the country. Additionally, the Tribunal found that section 64 did not apply to the non-resident assessee and reversed the addition of Rs. 41,98,615, allowing the appeal. Case-Laws Income Tax Tue, 11 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263605