https://www.taxtmi.com/caselaws?id=244149 ITAT held that interest received from the head office is not taxable and interest paid by the branch to the head office is not deductible (decision for revenue). Travel expenses borne by the head office for its staff visiting the Indian branch are allowable under s.37(1) and s.44C is inapplicable (decision against revenue). A prior-year allowance of a bad-debt claim was upheld, confirming the AO's action (for revenue). Section 14A applies to exempt interest from the head office/overseas branches, denying related expenditure (for revenue). en-us Fri, 13 Sep 2013 00:00:00 +0530 Fri, 19 Sep 2025 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244149 ITAT held that interest received from the head office is not taxable and interest paid by the branch to the head office is not deductible (decision for revenue). Travel expenses borne by the head office for its staff visiting the Indian branch are allowable under s.37(1) and s.44C is inapplicable (decision against revenue). A prior-year allowance of a bad-debt claim was upheld, confirming the AO's action (for revenue). Section 14A applies to exempt interest from the head office/overseas branches, denying related expenditure (for revenue). Case-Laws Income Tax Fri, 13 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244149