Dubai earnings sent through banking channels, yet tax notice issued: ITAT Ahmedabad rules property purchase can’t be treated as unexplained investment

An NRI working in Dubai since 1993 successfully challenged a tax notice for unexplained property investment in India. The ITAT Ahmedabad ruled that funds remitted through proper banking channels from his Dubai earnings, even for property purchase, cannot be deemed unexplained. This decision offers significant relief to NRIs facing similar tax scrutiny.

from Tax-Wealth-Economic Times https://ift.tt/XnTDHjY