https://www.taxtmi.com/caselaws?id=457879 Residency under foreign exchange law depends on the person's intention, as assessed from conduct and surrounding circumstances rather than a bare assertion. On the facts, the appellant's continued treatment of himself as a non-resident, including applying for collaboration in that capacity, maintaining foreign residence links and foreign bank arrangements, showed no settled intention to reside in India permanently. Isolated circumstances such as import of a car and closure of one foreign account were insufficient to establish resident status, and the notification explanation was held inapplicable on those facts. The appellant was therefore not a person resident in India at the relevant time, and the alleged contraventions under sections 14 and 9(1)(a) could not be sustained. en-us Mon, 19 Aug 1996 00:00:00 +0530 Mon, 30 Sep 2024 12:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457879 Residency under foreign exchange law depends on the person's intention, as assessed from conduct and surrounding circumstances rather than a bare assertion. On the facts, the appellant's continued treatment of himself as a non-resident, including applying for collaboration in that capacity, maintaining foreign residence links and foreign bank arrangements, showed no settled intention to reside in India permanently. Isolated circumstances such as import of a car and closure of one foreign account were insufficient to establish resident status, and the notification explanation was held inapplicable on those facts. The appellant was therefore not a person resident in India at the relevant time, and the alleged contraventions under sections 14 and 9(1)(a) could not be sustained. Case-Laws FEMA Mon, 19 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457879