https://www.taxtmi.com/caselaws?id=341386 The Tribunal upheld the CIT(A)'s decision that interest paid on FCCBs did not accrue or arise in India, falling under exceptions in Section 9(1)(v)(b). The assessee was not required to deduct tax at source under Section 196C r.w.s. 115AC. The appeal by the Assessing Officer was dismissed, with the Tribunal citing the Adani Enterprise Ltd case as precedent. The assessee's cross-objection was deemed infructuous. en-us Wed, 29 Mar 2017 00:00:00 +0530 Mon, 03 Apr 2017 20:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341386 The Tribunal upheld the CIT(A)'s decision that interest paid on FCCBs did not accrue or arise in India, falling under exceptions in Section 9(1)(v)(b). The assessee was not required to deduct tax at source under Section 196C r.w.s. 115AC. The appeal by the Assessing Officer was dismissed, with the Tribunal citing the Adani Enterprise Ltd case as precedent. The assessee's cross-objection was deemed infructuous. Case-Laws Income Tax Wed, 29 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341386