https://www.taxtmi.com/caselaws?id=35020 Foreign earnings converted into Indian rupees and invested in fixed deposits after an assessee becomes resident do not retain the character of assets brought from abroad for section 115H relief. On the admitted facts, once the required declaration was filed on becoming resident, the deposit and interest earned on it could not qualify for the statutory benefit intended for foreign assets. The benefit under section 115H was therefore denied, and the legal position was resolved against the assessee. en-us Fri, 04 Jan 2008 00:00:00 +0530 Tue, 01 Dec 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35020 Foreign earnings converted into Indian rupees and invested in fixed deposits after an assessee becomes resident do not retain the character of assets brought from abroad for section 115H relief. On the admitted facts, once the required declaration was filed on becoming resident, the deposit and interest earned on it could not qualify for the statutory benefit intended for foreign assets. The benefit under section 115H was therefore denied, and the legal position was resolved against the assessee. Case-Laws Income Tax Fri, 04 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35020