https://www.taxtmi.com/caselaws?id=69705 The Tribunal ruled in favor of the appellant, allowing the claim for relief under section 80L for interest earned from deposits in the foreign branch of the bank. The decision emphasized that deposits in a foreign branch of an Indian bank are considered deposits with the banking company as a whole, making the appellant eligible for relief under section 80L. The Tribunal rejected the argument that a foreign branch operates independently, stating that it is an extension of the parent company and subject to the parent company's regulations. en-us Tue, 26 Sep 1978 00:00:00 +0530 Mon, 11 Apr 2011 16:37:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69705 The Tribunal ruled in favor of the appellant, allowing the claim for relief under section 80L for interest earned from deposits in the foreign branch of the bank. The decision emphasized that deposits in a foreign branch of an Indian bank are considered deposits with the banking company as a whole, making the appellant eligible for relief under section 80L. The Tribunal rejected the argument that a foreign branch operates independently, stating that it is an extension of the parent company and subject to the parent company's regulations. Case-Laws Income Tax Tue, 26 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69705