https://www.taxtmi.com/caselaws?id=450827 ITAT Ahmedabad ruled in favor of the assessee on residential status determination. Despite staying 166 days in India (exceeding 60 days) and over 365 days in preceding four years, the assessee was treated as non-resident since AO accepted this status during assessment. Court held that unexplained foreign income, Singapore bank deposits, and share investments cannot be taxed in India for non-residents unless income accrues/arises in India. Revenue failed to provide corroborative evidence. Additionally, TDS disallowance under section 194C was deleted as assessee wasn't subject to audit provisions under section 44AB in preceding year. en-us Wed, 20 Dec 2023 00:00:00 +0530 Wed, 13 Mar 2024 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450827 ITAT Ahmedabad ruled in favor of the assessee on residential status determination. Despite staying 166 days in India (exceeding 60 days) and over 365 days in preceding four years, the assessee was treated as non-resident since AO accepted this status during assessment. Court held that unexplained foreign income, Singapore bank deposits, and share investments cannot be taxed in India for non-residents unless income accrues/arises in India. Revenue failed to provide corroborative evidence. Additionally, TDS disallowance under section 194C was deleted as assessee wasn't subject to audit provisions under section 44AB in preceding year. Case-Laws Income Tax Wed, 20 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450827