https://www.taxtmi.com/caselaws?id=122981 The Tribunal upheld the decisions favoring the assessee on issues related to taxability of interest income on securities and disallowance of broken period interest for the assessment year 2000-01. The matter concerning the addition on account of deferred guarantee commission was remitted to the Assessing Officer to avoid double taxation. Regarding disallowance under Section 14A for exempt income, the Tribunal directed a reassessment in line with the High Court's judgment. Additionally, the Tribunal supported the deduction of head office expenses under Section 37(1) for specific expenses incurred for Indian Branches. For subsequent assessment years, some grounds were dismissed as similar to the previous year, while others were sent back for fresh decisions. en-us Fri, 28 Jan 2011 00:00:00 +0530 Fri, 24 Aug 2012 11:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122981 The Tribunal upheld the decisions favoring the assessee on issues related to taxability of interest income on securities and disallowance of broken period interest for the assessment year 2000-01. The matter concerning the addition on account of deferred guarantee commission was remitted to the Assessing Officer to avoid double taxation. Regarding disallowance under Section 14A for exempt income, the Tribunal directed a reassessment in line with the High Court's judgment. Additionally, the Tribunal supported the deduction of head office expenses under Section 37(1) for specific expenses incurred for Indian Branches. For subsequent assessment years, some grounds were dismissed as similar to the previous year, while others were sent back for fresh decisions. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122981