https://www.taxtmi.com/caselaws?id=208567 The tribunal upheld the CIT(A)'s order in favor of the assessee regarding the taxability of interest income and broken period interest. The tribunal set aside the order on Section 14A disallowance for recomputation following a High Court judgment. Detailed directions were provided for the deductibility of head office and NRI desk expenses under Section 44C, with specific instructions for the AO to verify evidence and compute the deductible amount afresh. The appeals were allowed for statistical purposes, with clear guidance for the AO to adhere to. en-us Fri, 28 Jan 2011 00:00:00 +0530 Fri, 24 Aug 2012 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208567 The tribunal upheld the CIT(A)'s order in favor of the assessee regarding the taxability of interest income and broken period interest. The tribunal set aside the order on Section 14A disallowance for recomputation following a High Court judgment. Detailed directions were provided for the deductibility of head office and NRI desk expenses under Section 44C, with specific instructions for the AO to verify evidence and compute the deductible amount afresh. The appeals were allowed for statistical purposes, with clear guidance for the AO to adhere to. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208567