Dubai-based woman invests 3.41 crore in FCNR deposits along with husband, gets tax notice for unexplained money; ITAT gives relief saying bank confirmed source and AO mistook yen for rupees
ITAT Jaipur identified a significant error in the AO’s assessment. (Image for representative purpose only) Indians based globally and investing in India can in some cases face tax notices for unexplained income.In one such case, a woman invested money in FCNR term deposits along with her husband. Both of them received separate tax notices from … Read more