https://www.taxtmi.com/caselaws?id=188840 Interest paid to a creditor outside British India was deductible under Section 10(2)(iii) of the Income-tax Act, 1922 only if the statutory proviso was satisfied. The court distinguished between an agent in British India being assessable under Section 43 and the mere assessability of the principal, and treated the former as the controlling condition for the exception. It further noted that where the same creditor had already been assessed on the relevant item, the proper remedy for the assessee was a departmental refund claim, because the same sum could not be assessed twice. The proviso was therefore to be applied strictly. en-us Tue, 03 Oct 1950 00:00:00 +0530 Sat, 17 Dec 2016 15:39:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188840 Interest paid to a creditor outside British India was deductible under Section 10(2)(iii) of the Income-tax Act, 1922 only if the statutory proviso was satisfied. The court distinguished between an agent in British India being assessable under Section 43 and the mere assessability of the principal, and treated the former as the controlling condition for the exception. It further noted that where the same creditor had already been assessed on the relevant item, the proper remedy for the assessee was a departmental refund claim, because the same sum could not be assessed twice. The proviso was therefore to be applied strictly. Case-Laws Income Tax Tue, 03 Oct 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188840