https://www.taxtmi.com/caselaws?id=13284 The High Court granted a certificate for appeal in a tax case involving the interpretation of the proviso to section 5(1)(c) and section 10(4)(ii) of the Income-tax Act, 1961. The court upheld that income earned outside India by a person not ordinarily resident in India and deposited in NRE accounts is exempt from tax. However, it disagreed with the treatment of certain foreign currency deposits without declarations as undisclosed income. The High Court found that interest on such deposits is not exempt from tax under the Act, leading to the grant of the certificate for appeal to the Supreme Court on substantial questions of law. en-us Wed, 03 May 2006 00:00:00 +0530 Sun, 02 May 2010 23:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13284 The High Court granted a certificate for appeal in a tax case involving the interpretation of the proviso to section 5(1)(c) and section 10(4)(ii) of the Income-tax Act, 1961. The court upheld that income earned outside India by a person not ordinarily resident in India and deposited in NRE accounts is exempt from tax. However, it disagreed with the treatment of certain foreign currency deposits without declarations as undisclosed income. The High Court found that interest on such deposits is not exempt from tax under the Act, leading to the grant of the certificate for appeal to the Supreme Court on substantial questions of law. Case-Laws Income Tax Wed, 03 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13284