https://www.taxtmi.com/caselaws?id=255672 The High Court of Karnataka allowed an appeal under section 260A of the Income Tax Act, 1961 against the Income Tax Appellate Tribunal's order for the assessment year 1995-96. The court held that interest payment made by the Indian Branch to its head office abroad was deductible in computing profits. It also ruled that the Indian Branch was not required to deduct tax at source under section 195 of the Income Tax Act, 1961. The court's decision was influenced by a previous judgment and dismissed the appeal in favor of the appellant based on the interpretation of relevant tax provisions. en-us Mon, 17 Nov 2014 00:00:00 +0530 Fri, 23 Jan 2015 06:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255672 The High Court of Karnataka allowed an appeal under section 260A of the Income Tax Act, 1961 against the Income Tax Appellate Tribunal's order for the assessment year 1995-96. The court held that interest payment made by the Indian Branch to its head office abroad was deductible in computing profits. It also ruled that the Indian Branch was not required to deduct tax at source under section 195 of the Income Tax Act, 1961. The court's decision was influenced by a previous judgment and dismissed the appeal in favor of the appellant based on the interpretation of relevant tax provisions. Case-Laws Income Tax Mon, 17 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255672