https://www.taxtmi.com/caselaws?id=76227 The court upheld the Income-tax Appellate Tribunal's decision that interest paid on deposits in foreign currency was exempt from taxable income under section 10(15) (iv) (fa) of the Income-tax Act. The court clarified that tax deduction at the source is required only on income subject to tax under the Act. Additionally, the court found that no TDS was required on rent paid to co-owners of a property as the ownership shares were clearly defined and ascertainable, with each co-owner's share being taxed individually. Consequently, both appeals by the appellant were dismissed. en-us Tue, 26 Aug 2008 00:00:00 +0530 Thu, 01 Sep 2016 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76227 The court upheld the Income-tax Appellate Tribunal's decision that interest paid on deposits in foreign currency was exempt from taxable income under section 10(15) (iv) (fa) of the Income-tax Act. The court clarified that tax deduction at the source is required only on income subject to tax under the Act. Additionally, the court found that no TDS was required on rent paid to co-owners of a property as the ownership shares were clearly defined and ascertainable, with each co-owner's share being taxed individually. Consequently, both appeals by the appellant were dismissed. Case-Laws Income Tax Tue, 26 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76227