https://www.taxtmi.com/caselaws?id=63862 The Tribunal addressed multiple banking-tax issues, including deductibility of overseas mobilisation expenses for NRI deposits, classification of rental receipts from let-out properties, and the scope of deduction under section 36(1)(viia). It held that employee training hotel expenses were outside section 37(3) read with Rule 6D, club subscription and periodical fees were allowable business expenditure, and exemption for foreign currency syndicated loan fees was supportable on the material produced. It also held that interest payable to head office was not deductible and that alleged foreign branch credit card commission income was not taxable in India. Certain deductions under sections 36(1)(viia) and 44C were to be recomputed on finally determined income, and one issue was remanded for factual verification. en-us Fri, 24 Oct 2008 00:00:00 +0530 Tue, 22 Feb 2011 13:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63862 The Tribunal addressed multiple banking-tax issues, including deductibility of overseas mobilisation expenses for NRI deposits, classification of rental receipts from let-out properties, and the scope of deduction under section 36(1)(viia). It held that employee training hotel expenses were outside section 37(3) read with Rule 6D, club subscription and periodical fees were allowable business expenditure, and exemption for foreign currency syndicated loan fees was supportable on the material produced. It also held that interest payable to head office was not deductible and that alleged foreign branch credit card commission income was not taxable in India. Certain deductions under sections 36(1)(viia) and 44C were to be recomputed on finally determined income, and one issue was remanded for factual verification. Case-Laws Income Tax Fri, 24 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63862