https://www.taxtmi.com/caselaws?id=471214 Interest on NRE/FCNR deposits retained by a returning non-resident until maturity remains exempt where retention is permitted under the foreign-exchange regime; the exemption is not confined to continuing non-residents. Presumptive interest on foreign investments cannot be taxed without evidence of actual receipt or accrual, and disputed foreign-currency bank credits require bank verification before being treated as unexplained income. Chapter VI-A deductions, along with consequential deduction and rebate claims, were allowable in the stated circumstances. Reassessment reopening based on information concerning foreign bank accounts remained valid, while the related income additions required correction or fresh factual determination. en-us Thu, 09 Nov 2017 00:00:00 +0530 Tue, 25 Aug 2026 18:57:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471214 Interest on NRE/FCNR deposits retained by a returning non-resident until maturity remains exempt where retention is permitted under the foreign-exchange regime; the exemption is not confined to continuing non-residents. Presumptive interest on foreign investments cannot be taxed without evidence of actual receipt or accrual, and disputed foreign-currency bank credits require bank verification before being treated as unexplained income. Chapter VI-A deductions, along with consequential deduction and rebate claims, were allowable in the stated circumstances. Reassessment reopening based on information concerning foreign bank accounts remained valid, while the related income additions required correction or fresh factual determination. Case-Laws Income Tax Thu, 09 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471214