https://www.taxtmi.com/caselaws?id=429711 The Tribunal allowed the appeal for statistical purposes, setting aside the order and remitting the case to the Assessing Officer for fresh determination of the taxability of services provided by the foreign company to its Indian subsidiary. The Tribunal directed the AO to clarify the nature of services rendered and determine taxability accordingly. Additionally, the AO was instructed to grant credit for Tax Deducted at Source on interest received, and the initiation of penalty proceedings was deemed premature and dismissed. en-us Tue, 01 Nov 2022 00:00:00 +0530 Thu, 03 Nov 2022 09:06:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429711 The Tribunal allowed the appeal for statistical purposes, setting aside the order and remitting the case to the Assessing Officer for fresh determination of the taxability of services provided by the foreign company to its Indian subsidiary. The Tribunal directed the AO to clarify the nature of services rendered and determine taxability accordingly. Additionally, the AO was instructed to grant credit for Tax Deducted at Source on interest received, and the initiation of penalty proceedings was deemed premature and dismissed. Case-Laws Income Tax Tue, 01 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429711