Concessional Rate u/s 115 not Applicable when Money Deposited in Indian Rupees and not in Foreign Exchange Currency: ITAT [Read Order]

Concessional Rate - Money Deposited in Indian Rupees - Foreign Exchange Currency - ITAT - TAXSCAN

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has held that the concessional rate under Section 115 of the Income Tax Act 1961 is not applicable when the money deposited is in Indian Rupees and not in foreign exchange currency. The assessee, Pawan Kumar Agarwal had filed the return of income declaring an income….

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