https://www.taxtmi.com/caselaws?id=777120 Income earned through foreign branches in Singapore and Sri Lanka was held includible in the resident assessee's Indian total income, with relief available under the DTAA through the foreign tax credit mechanism rather than exemption. The foreign currency fluctuation reserve issue was remanded for de novo adjudication because the assessee had not been given a proper opportunity to explain the reserve, and the matter had to be reconsidered in accordance with natural justice. Education cess was held not deductible as business expenditure under the applicable statutory framework, and the disallowance was sustained. en-us Wed, 08 Jan 2025 00:00:00 +0530 Thu, 21 Aug 2025 12:00:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777120 Income earned through foreign branches in Singapore and Sri Lanka was held includible in the resident assessee's Indian total income, with relief available under the DTAA through the foreign tax credit mechanism rather than exemption. The foreign currency fluctuation reserve issue was remanded for de novo adjudication because the assessee had not been given a proper opportunity to explain the reserve, and the matter had to be reconsidered in accordance with natural justice. Education cess was held not deductible as business expenditure under the applicable statutory framework, and the disallowance was sustained. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777120