https://www.taxtmi.com/caselaws?id=434807 The Tribunal upheld decisions against the assessee regarding the rate of tax applicable, while allowing the ground raised by the assessee on the taxability of data processing fees. The levy of surcharge and education cess issue was dismissed as academic. The Tribunal held that interest paid by the Indian branch office to the head office and overseas branches is not taxable. The Tribunal directed the AO to grant TDS credit correctly and allowed grounds related to interest computation for statistical purposes. The initiation of penalty proceedings was deemed premature and dismissed. The appeals were partly allowed in favor of the assessee. en-us Tue, 24 Jan 2023 00:00:00 +0530 Wed, 05 Apr 2023 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434807 The Tribunal upheld decisions against the assessee regarding the rate of tax applicable, while allowing the ground raised by the assessee on the taxability of data processing fees. The levy of surcharge and education cess issue was dismissed as academic. The Tribunal held that interest paid by the Indian branch office to the head office and overseas branches is not taxable. The Tribunal directed the AO to grant TDS credit correctly and allowed grounds related to interest computation for statistical purposes. The initiation of penalty proceedings was deemed premature and dismissed. The appeals were partly allowed in favor of the assessee. Case-Laws Income Tax Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434807