https://www.taxtmi.com/caselaws?id=341382 The Tribunal ruled in favor of the assessee, Standard Chartered Bank India, determining that the payments made did not constitute "royalty" or "fees for technical services" under the Income Tax Act. The Tribunal directed the Assessing Officer to grant full credit for TDS, delete interest charged under Sections 234B and 234C, and dismiss the initiation of penalty proceedings. The appeals for all three assessment years were partly allowed, with the Tribunal consistently ruling in favor of the assessee on the main issues. en-us Wed, 29 Mar 2017 00:00:00 +0530 Fri, 07 Apr 2017 08:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341382 The Tribunal ruled in favor of the assessee, Standard Chartered Bank India, determining that the payments made did not constitute "royalty" or "fees for technical services" under the Income Tax Act. The Tribunal directed the Assessing Officer to grant full credit for TDS, delete interest charged under Sections 234B and 234C, and dismiss the initiation of penalty proceedings. The appeals for all three assessment years were partly allowed, with the Tribunal consistently ruling in favor of the assessee on the main issues. Case-Laws Income Tax Wed, 29 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341382