https://www.taxtmi.com/caselaws?id=426383 The Tribunal upheld the CIT(A)'s decision, distinguishing between direct and shared expenses incurred by the Head Office for Indian branches under the Income Tax Act, 1961. It dismissed the Revenue's appeal, emphasizing that direct expenses are fully allowable while shared expenses should be considered under section 44C. The appeal by the Revenue was dismissed, and the cross objection by the assessee was also dismissed as infructuous. The decision clarified the tax treatment of such expenses, providing guidance for future cases. en-us Wed, 10 Aug 2022 00:00:00 +0530 Sat, 13 Aug 2022 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426383 The Tribunal upheld the CIT(A)'s decision, distinguishing between direct and shared expenses incurred by the Head Office for Indian branches under the Income Tax Act, 1961. It dismissed the Revenue's appeal, emphasizing that direct expenses are fully allowable while shared expenses should be considered under section 44C. The appeal by the Revenue was dismissed, and the cross objection by the assessee was also dismissed as infructuous. The decision clarified the tax treatment of such expenses, providing guidance for future cases. Case-Laws Income Tax Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426383