NRI's ₹3.41 crore FCNR deposits flagged as unexplained money after tax officer mistook yen for rupees, ITAT gives relief

The Income Tax Appellate Tribunal (ITAT) Jaipur ruled in favor of a Non-Resident Indian (NRI) by deleting a ₹3.41 crore income tax addition. The tribunal found that the assessing officer had mistakenly considered Japanese yen figures as Indian rupees. The NRI provided bank records to establish the source of her Foreign Currency Non-Resident (FCNR) deposits.