ITAT Ahmedabad Deletes Rs 56 Lakh Addition in NRI Property Investment Case:

The Tribunal accepted his explanation, noting that the amount was invested out of the income earned by the assessee in Dubai, which was invested in property.

ITAT Allows Appeal in Rs 56 Lakh Unexplained Investment Case

Nidhi

Mar 2, 2026

Last update on Mar 2, 2026

ITAT Ahmedabad Deletes Rs 56 Lakh Addition in NRI Property Investment Case The Income Tax Appellate Tribunal (ITAT), Ahmedabad, ruled in favour of a Non-Resident Indian in a property investment case for the Assessment Year 2015-16. The assessee, Mr Vashdev Darianomal Kalwani, has been an NRI living in the UAE since 1993. The lower tax authorities have added Rs 56,15,441 to his income, saying that it was an unexplained investment made for purchasing property in India. However, the assessee argued that he had not earned any income in India other than the bank interest from his NRI accounts. He said that the money was transferred from his Dubai bank account and his son's account to his Indian bank account. This money was invested in buying property. The Tribunal accepted his explanation, noting that the amount was invested out of the income earned by the assessee in Dubai, which was invested in property. Therefore, this amount was not unexplained. Accordingly, the ITAT deleted the addition of Rs 56,15,441.

About Author

Nidhi

Content Writer

Nidhi is a skilled content writer specializing in personal finance. She creates clear, engaging articles on mutual funds, investments, insurance, and wealth-building strategies. With a passion for simplifying complex financial topics, Nidhi helps readers make informed money decisions with confidence. She can be reached at [email protected]