Whether an assessment of a Non-Resident Indian (NRI) can be reopened when all investments were made from an NRE account and the NR has failed to file its return of income
The Hon’ble Gujarat High Court has held that it cannot be reopened. The court stated that the funds which were invested came from non-resident (external) accounts, and therefore, the source was beyond the reach of the authorities.
The copy of the order is as under:
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