https://www.taxtmi.com/caselaws?id=754515 The ITAT Mumbai ruled in favor of the assessee on multiple grounds. The tribunal held that year-end provisions for expenses where bills weren't received are not subject to TDS disallowance under section 40(a)(ia). Interest income must be included when computing deduction under section 10AA. Subscription fees to non-residents for accessing online databases don't attract TDS under section 195. Foreign tax credit is available except for taxes paid in Finland and Canada. Diminution in investment value charged to P&L is not a provision requiring addition for MAT computation. Advertisement expenses are revenue expenditure, not capital. Commission payments to non-resident agents without Indian business connection or PE don't require TDS deduction. en-us Mon, 18 Dec 2023 00:00:00 +0530 Tue, 25 Jun 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754515 The ITAT Mumbai ruled in favor of the assessee on multiple grounds. The tribunal held that year-end provisions for expenses where bills weren't received are not subject to TDS disallowance under section 40(a)(ia). Interest income must be included when computing deduction under section 10AA. Subscription fees to non-residents for accessing online databases don't attract TDS under section 195. Foreign tax credit is available except for taxes paid in Finland and Canada. Diminution in investment value charged to P&L is not a provision requiring addition for MAT computation. Advertisement expenses are revenue expenditure, not capital. Commission payments to non-resident agents without Indian business connection or PE don't require TDS deduction. Case-Laws Income Tax Mon, 18 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754515