Rs 3.41 crore in FCNR deposits tagged as unexplained money despite being held by Dubai-based individual; ITAT Jaipur grants full relief

Mrs. Khanwani, a Dubai resident, faced tax notices for unexplained money linked to her FCNR deposits. The ITAT Jaipur ruled in her favor, highlighting the funds' clear origin from bank records. The Income Tax Department could not dispute the source of funds provided by her husband, Mr. Chand.

from Tax-Wealth-Economic Times https://ift.tt/Sh7NGoY