P K KUNHIRAMAN,THRISSUR vs. DEPUTY COMMISSIONER OF INCOME TAX, THRISSUR

ITA 681/COCH/2024Status: DisposedITAT Cochin30 May 2025AY 2016-2017Bench: Shri Inturi Rama Rao (Accountant Member), Shri Prakash Chand Yadav (Judicial Member)4 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the Revenue's DR admitted the existence of NRE deposits. Considering the additional evidences filed by the assessee to prove non-resident status, the Tribunal remitted the matter back to the CIT(A) to re-examine the issue afresh in light of these new documentary evidences.

What were the facts?

The assessee's income tax returns for multiple assessment years were reopened under Section 148. The primary dispute was the assessee's claim for exemption under Section 10(4)(ii) on interest earned from NRE deposits, which the Assessing Officer disallowed, contending the assessee was a resident and relying on FEMA provisions. The CIT(A) upheld the AO's order, leading to the present appeal.

What were the issues?

Whether the assessee qualified as a non-resident for claiming exemption under Section 10(4)(ii) for interest on NRE deposits, and if the disallowance based on residential status and FEMA was justified.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 148,Section 10(4)(ii),Section 10(4)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Respondent: DR &
Pronounced: 30.05.2025

Heard together (5 matters)

ITA No.672/Coch/2024
ITA No.674/Coch/2024
ITA No.680/Coch/2024
ITA No.681/Coch/2024
TC 48/72

Read from the judgment's own cause title. This page is filed under one of them.

Per Prakash Chand Yadav, JM : The present appeal of the assessee is arising from the order of the National Faceless Appeal Centre / learned Commissioner of Income-tax (Appeals) [“CIT(A)” for short] dated 26.07.2024, having DIN & Order No.ITBA/NFAC/S/250/2024- 25/1067071732(1) and relates to the assessment year 2017- 2018. 2. All these appeals are arising from the order of the National Faceless Appeal Centre / learned Commissioner of 2 ITA No.672/Coch/2024. Pathirikattu Kalam Kunhiraman.

Income-tax

The order continues below.

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