Will LAFHA provided in Australia will be taxable under India's income tax once I file my tax return in India? Am I resident in India and Australia for the tax purposes?

You may have to pay tax initially in both countries, but you should be able to get it back from one of these under the double tax agreement between Australia and India. Which country you are a resident in for tax purposes depends on the length of your stay in each during the year. I would speak to an accountant about this to get a definitive answer.