ITAT Ahmedabad Rules Dubai Earnings Used for Property Not Unexplained Investment

The ITAT Ahmedabad ruled in favor of an NRI who challenged a tax notice alleging unexplained property investment in India. The NRI, residing in Dubai since 1993, demonstrated that the funds used for the property purchase were remitted through proper banking channels from his Dubai earnings, with additional contributions from his son. The tribunal held that such transactions cannot be treated as unexplained investments, providing relief to NRIs facing similar tax scrutiny.