Will bitcoins be recognized by the Indian Government ?
Bitcoin is not yet declared legal currency in India because the government is still assessing the possibility of legalization by regulating the bitcoin and other digital currencies to ensure that it will not be used in illegal activities such as scams, laundering and smuggling therefore you still can enjoy the benefits of engaging bitcoin without tax because bitcoin is not legal but not ban in the country.
I think the reason you say does not only apply in India. Almost all of the countries that still not legalize bitcoin has the same reason with which you convey.