https://www.taxtmi.com/caselaws?id=9629 The court upheld the Income-tax Appellate Tribunal's decision that if total income in years without filed returns remains below the taxable limit after deductions, it should not be part of undisclosed income. Regarding the exemption of interest on FDRs from NRE accounts under section 10(4)(ii), the court agreed with the Tribunal that interest on NRE FDRs should be exempt to encourage foreign currency investments. The court emphasized that the original deposit in the NRE account was made in compliance with the law, allowing for interest exemption. Consequently, the court dismissed the appeal as both issues were decided against the appellant. en-us Wed, 25 Jan 2006 00:00:00 +0530 Sun, 28 Jun 2009 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9629 The court upheld the Income-tax Appellate Tribunal's decision that if total income in years without filed returns remains below the taxable limit after deductions, it should not be part of undisclosed income. Regarding the exemption of interest on FDRs from NRE accounts under section 10(4)(ii), the court agreed with the Tribunal that interest on NRE FDRs should be exempt to encourage foreign currency investments. The court emphasized that the original deposit in the NRE account was made in compliance with the law, allowing for interest exemption. Consequently, the court dismissed the appeal as both issues were decided against the appellant. Case-Laws Income Tax Wed, 25 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9629