https://www.taxtmi.com/caselaws?id=335855 The court dismissed the appeal as most issues raised by the Revenue did not present substantial questions of law. The court found that interest received by the Indian Permanent Establishment of a foreign bank from its Head Office and overseas branches was taxable. The court also held that interest paid by the assessee to its Head Office and overseas branches would be deductible. Additionally, the court determined that a payment for data processing services did not constitute royalty and referred the issue back to the Assessing Officer for further consideration under Section 44C of the Act. en-us Mon, 05 Dec 2016 00:00:00 +0530 Sun, 11 Dec 2016 23:50:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335855 The court dismissed the appeal as most issues raised by the Revenue did not present substantial questions of law. The court found that interest received by the Indian Permanent Establishment of a foreign bank from its Head Office and overseas branches was taxable. The court also held that interest paid by the assessee to its Head Office and overseas branches would be deductible. Additionally, the court determined that a payment for data processing services did not constitute royalty and referred the issue back to the Assessing Officer for further consideration under Section 44C of the Act. Case-Laws Income Tax Mon, 05 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335855