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7. The petitioner, by reply dated 02.03.2024, in response to both the notices raised preliminary objection of jurisdiction of the respondent and also furnished all the documents and explanation regarding source of term deposit in the bank account of the petitioner. It was explained that the fixed deposits were made out of remittances from Dubai and maturity of existing term deposits, interest on NRE account and inter se transfer of funds between various bank accounts of the petitioner which are not taxable and are exempted under the provisions of the Act.

9. The petitioner by reply dated 07.03.2024 again informed the respondent that the petitioner is non-resident Indian and term deposits are made from NRE Account and on maturity of such deposits, the interest accrued thereon is exempted from tax under section 10(4)(ii) of the Act.

NEUTRAL CITATION C/SCA/9058/2024 JUDGMENT DATED: 23/08/2024 undefined

14. Learned advocate for the petitioner also pointed out that there is no escapement of income as the petitioner has explained the source of NRE Account with the HDFC Bank and the interest income accrued thereon is an exempt income in the hands of the petitioner and therefore, the impugned notice is liable to be quashed and set aside. It was further submitted by learned advocate for the petitioner that the the petitioner has also received a communication from the office of the Income Tax Officer at Vijayanagaram, Andhra Pradesh, for the Assessment Year 2018-19 and therefore, the respondent- Assessing Officer at Vapi has no jurisdiction.