https://www.taxtmi.com/caselaws?id=361530 The Tribunal ruled in favor of the assessee on various issues. It held that reimbursement of Bank Guarantee Commission to a non-resident was not subject to disallowance under Section 40(a)(i). Interest income from fixed deposits was categorized as "Income from Other Sources." Expenditures related to arbitration proceedings were treated as revenue expenses. Deemed export benefits were excluded to prevent double taxation. Adhoc disallowance of 20% of travelling expenses was upheld. Payments for included services under the India-USA tax agreement were not taxable in India. The Tribunal's decision favored the assessee on these grounds, with the order issued on 31/05/2018. en-us Thu, 31 May 2018 00:00:00 +0530 Fri, 08 Jun 2018 09:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361530 The Tribunal ruled in favor of the assessee on various issues. It held that reimbursement of Bank Guarantee Commission to a non-resident was not subject to disallowance under Section 40(a)(i). Interest income from fixed deposits was categorized as "Income from Other Sources." Expenditures related to arbitration proceedings were treated as revenue expenses. Deemed export benefits were excluded to prevent double taxation. Adhoc disallowance of 20% of travelling expenses was upheld. Payments for included services under the India-USA tax agreement were not taxable in India. The Tribunal's decision favored the assessee on these grounds, with the order issued on 31/05/2018. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361530