https://www.taxtmi.com/caselaws?id=180222 The Tribunal allowed the appeals in part, deleting additions and disallowances based on judicial precedents and consistent Tribunal decisions. The Tribunal ruled that interest received from the Head Office by a foreign bank branch is not taxable in India. Additionally, interest paid to the Head Office was not taxable. The Tribunal upheld the deduction for bad debts written off and traveling expenses, among others. The repeat claim for bad debts written off was denied, and the applicability of section 14A was referred back to the Assessing Officer for quantification. The cross-objection on broken period interest was dismissed. en-us Wed, 13 Nov 2013 00:00:00 +0530 Wed, 05 Oct 2016 13:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180222 The Tribunal allowed the appeals in part, deleting additions and disallowances based on judicial precedents and consistent Tribunal decisions. The Tribunal ruled that interest received from the Head Office by a foreign bank branch is not taxable in India. Additionally, interest paid to the Head Office was not taxable. The Tribunal upheld the deduction for bad debts written off and traveling expenses, among others. The repeat claim for bad debts written off was denied, and the applicability of section 14A was referred back to the Assessing Officer for quantification. The cross-objection on broken period interest was dismissed. Case-Laws Income Tax Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180222