Thursday 1 August 2013

Amount transferred by NR from his foreign to domestic account couldn’t be deemed as unexplained cred

IT : Where assessee did not stay in India for a period of 182 days or more in any of assessment years in question, he was to be regarded as non-resident and, therefore, amount transferred from his foreign account to domestic account could not be brought to tax in India by invoking provisions of section 68


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