Binny Bansal Denied Tax Relief by ITAT on Non-Resident Claim Under India-Singapore Treaty

• Flipkart co-founder Binny Bansal's petition for non-resident tax benefits under the India-Singapore Tax Treaty was dismissed by the Bengaluru bench of the ITAT.
• ITAT ruled Binny Bansal, an Indian national, did not qualify for tax relaxation as he stayed in India for more than 60 days, meeting residential conditions under the Income Tax Act.
• Bansal sought tax exemptions on capital gains from Flipkart share sales (Aug-Nov 2019), claiming he was a Singapore resident and outside India for employment.
• The tax department argued that relaxation applies only to existing non-residents, not those resident in the preceding financial year.
• The tribunal rejected Bansal's argument for an extended 182-day stay threshold, stating it would allow repeated claims by visitors.

Why It Matters: ITAT denies Binny Bansal non-resident tax relief, citing his Indian nationality and stay exceeding 60 days.