https://www.taxtmi.com/caselaws?id=261078 The Tribunal ruled in favor of the assessee on various tax issues, allowing deductions and exemptions in line with the Double Taxation Avoidance Agreement (DTAA) provisions and consistent accounting practices. The Tribunal held that restrictions under domestic tax laws should not apply to DTAA provisions pre-amendment, favored lower tax rates under DTAA, allowed losses on Forward Foreign Exchange Contracts, and granted full exemption on interest from tax-free bonds. The Tribunal also decided that commission income from mobilizing deposits under the Indian Millennium Deposit Scheme was not taxable in India after deducting related expenses. en-us Fri, 08 May 2015 00:00:00 +0530 Thu, 02 Jul 2015 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261078 The Tribunal ruled in favor of the assessee on various tax issues, allowing deductions and exemptions in line with the Double Taxation Avoidance Agreement (DTAA) provisions and consistent accounting practices. The Tribunal held that restrictions under domestic tax laws should not apply to DTAA provisions pre-amendment, favored lower tax rates under DTAA, allowed losses on Forward Foreign Exchange Contracts, and granted full exemption on interest from tax-free bonds. The Tribunal also decided that commission income from mobilizing deposits under the Indian Millennium Deposit Scheme was not taxable in India after deducting related expenses. Case-Laws Income Tax Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261078