NRI woman’s FCNR deposits get tax notice as unexplained; ITAT grants relief

RSS excerpt

A woman, who originally hails from Beawar, and now resides in Dubai, United Arab Emirates (UAE), decided to put money into investments in India. She along with her husband invested Rs 3.41 crore in two Foreign Currency Non-Resident (FCNR) term deposits. The husband’s name appeared as the first…