https://www.taxtmi.com/highlights?id=6289 There is a clear distinction between the NOSTRO interest earned/paid by the assessee from/to its own Head office/overseas branches and NOSTRO interest paid/earned to/from other than assessee's own Head office or branches. Whereas in the first situation, the principle of mutuality will apply and in the later case it will not. - AT en-us Thu, 20 Dec 2012 20:47:20 +0530 Thu, 20 Dec 2012 20:47:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=6289 There is a clear distinction between the NOSTRO interest earned/paid by the assessee from/to its own Head office/overseas branches and NOSTRO interest paid/earned to/from other than assessee's own Head office or branches. Whereas in the first situation, the principle of mutuality will apply and in the later case it will not. - AT Highlights Income Tax Thu, 20 Dec 2012 20:47:20 +0530 https://www.taxtmi.com/highlights?id=6289