Remittances from Non-Resident Relatives into Undisputed NRE Accounts via Banking Channels Cannot Be Taxed as Unexplained Investments
Remittances from Non-Resident Relatives into Undisputed NRE Accounts via Banking Channels Cannot Be Taxed as Unexplained Investments Issue Whether additions made under Sections 68 and 69 towards mutual fund investments sourced from overseas remittances by non-resident relatives into an undisputed NRE account via normal banking channels are sustainable in law. Facts Assessment Year: AY 2006-07.… Read More »