https://www.taxtmi.com/caselaws?id=189860 The Authority denied the applicant's request for income-tax exemption on earnings received in India in Indian rupees from letting out London properties to Indian parties. The ruling clarified that the earnings did not qualify as invisible exports under the Income-tax Act, 1961, as they were taxable under Indian income-tax law without specific exemption provisions applying. The Authority emphasized that potential foreign exchange savings did not automatically warrant exemption and that the applicant's proposal did not align with statutory provisions governing export earnings exemptions. en-us Mon, 18 Dec 1995 00:00:00 +0530 Mon, 23 Jan 2017 18:20:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189860 The Authority denied the applicant's request for income-tax exemption on earnings received in India in Indian rupees from letting out London properties to Indian parties. The ruling clarified that the earnings did not qualify as invisible exports under the Income-tax Act, 1961, as they were taxable under Indian income-tax law without specific exemption provisions applying. The Authority emphasized that potential foreign exchange savings did not automatically warrant exemption and that the applicant's proposal did not align with statutory provisions governing export earnings exemptions. Case-Laws Indian Laws Mon, 18 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189860