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2008 (1) TMI 390 - KARNATAKA HIGH COURTNon-resident – concessional rate of tax - The assessee as a doctor was a non-resident and thereafter he returned to India and he brought his earnings earned abroad and invested the same in a bank and was getting interest from such investment as NRI. He was also getting the benefit, namely, the concessional rate of income tax at 21 per cent. under section 115E of the Income-tax Act, thereafter, he filed a declaration to change his status from NRI to resident. The assessee after filing such declaration claimed certain reliefs under section 115H of the Income-tax Act – held that - , in view of the provisions of section 115H of the Income-tax Act, we are of the opinion that the Tribunal was justified in allowing the appeal of the Revenue and setting aside the order passed by the Commissioner of Income-tax (Appeals). - , is not entitled to contend that the amount invested by him in fixed deposit still has to be considered as an asset brought from abroad – benefit not allowed
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