https://www.taxtmi.com/caselaws?id=17706 Interest credited to a Non-resident (External) Account was exempt under section 10(4A) of the Income-tax Act only if the assessee qualified as a person resident outside India under the Foreign Exchange Regulation Act definitions. On the facts, the assessee's stay in India with a resident spouse and his substantial family and proprietary ties in India brought him within the statutory concept of a person resident in India, so the exemption condition failed. As a result, the interest could not be excluded from income, and the same reasoning applied to the wealth-tax claim, leaving the account balance includible in total wealth. en-us Tue, 10 Sep 1996 00:00:00 +0530 Thu, 24 Sep 2009 12:43:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17706 Interest credited to a Non-resident (External) Account was exempt under section 10(4A) of the Income-tax Act only if the assessee qualified as a person resident outside India under the Foreign Exchange Regulation Act definitions. On the facts, the assessee's stay in India with a resident spouse and his substantial family and proprietary ties in India brought him within the statutory concept of a person resident in India, so the exemption condition failed. As a result, the interest could not be excluded from income, and the same reasoning applied to the wealth-tax claim, leaving the account balance includible in total wealth. Case-Laws Income Tax Tue, 10 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17706