https://www.taxtmi.com/caselaws?id=434807 A foreign bank's claim to the same tax rate as domestic companies and co-operative banks under the India-France treaty's non-discrimination article was rejected because earlier coordinate bench decisions in the bank's own case had already held that the higher foreign-company rate was not discriminatory. Data processing fees paid by Indian branches to the Singapore branch were not taxable in India, as the payment was treated as a transaction within the same legal entity and earlier binding precedent supported non-taxability. Interest paid by Indian branches to the head office and overseas branches was also not taxable on the same-entity principle under the treaty and permanent establishment framework. Short TDS credit required factual verification, interest under sections 234B, 234C and 234D followed the assessment outcome, and penalty initiation was held premature. 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 A foreign bank's claim to the same tax rate as domestic companies and co-operative banks under the India-France treaty's non-discrimination article was rejected because earlier coordinate bench decisions in the bank's own case had already held that the higher foreign-company rate was not discriminatory. Data processing fees paid by Indian branches to the Singapore branch were not taxable in India, as the payment was treated as a transaction within the same legal entity and earlier binding precedent supported non-taxability. Interest paid by Indian branches to the head office and overseas branches was also not taxable on the same-entity principle under the treaty and permanent establishment framework. Short TDS credit required factual verification, interest under sections 234B, 234C and 234D followed the assessment outcome, and penalty initiation was held premature. Case-Laws Income Tax Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434807