https://www.taxtmi.com/caselaws?id=296293 The Tribunal held that the income earned by the assessee from investments in Malaysia should be taxed in India as "income from other sources," rejecting the assessee's claim based on the Double Taxation Avoidance Agreement (DTAA) with Malaysia. The Tribunal disallowed the expenditure incurred by the Malaysian branch against business income and upheld the levy of interest under Sections 234B and 234D of the Act. The Tribunal also confirmed the reopening of assessment, classification of interest and dividend income, exclusion of unrealized gain on currency translation, allowance of diminution in investment value, and expenses on bank guarantee as business expenditure. en-us Fri, 21 Oct 2016 00:00:00 +0530 Wed, 14 Jul 2021 06:25:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296293 The Tribunal held that the income earned by the assessee from investments in Malaysia should be taxed in India as "income from other sources," rejecting the assessee's claim based on the Double Taxation Avoidance Agreement (DTAA) with Malaysia. The Tribunal disallowed the expenditure incurred by the Malaysian branch against business income and upheld the levy of interest under Sections 234B and 234D of the Act. The Tribunal also confirmed the reopening of assessment, classification of interest and dividend income, exclusion of unrealized gain on currency translation, allowance of diminution in investment value, and expenses on bank guarantee as business expenditure. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296293