https://www.taxtmi.com/caselaws?id=778229 ITAT MUMBAI held that cross-charges between a domestic bank and its foreign affiliate for services in facilitating clients' derivatives trading did not justify treating payments made by the domestic bank to the foreign bank as the domestic bank's income nor sustaining a default for failure to deduct TDS. The Tribunal found no merit in the assessing officer's additions and directed deletion of the impugned disallowances and tax-deduction-at-source default, allowing the assessee's effective grounds. en-us Wed, 10 Sep 2025 00:00:00 +0530 Fri, 12 Sep 2025 08:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778229 ITAT MUMBAI held that cross-charges between a domestic bank and its foreign affiliate for services in facilitating clients' derivatives trading did not justify treating payments made by the domestic bank to the foreign bank as the domestic bank's income nor sustaining a default for failure to deduct TDS. The Tribunal found no merit in the assessing officer's additions and directed deletion of the impugned disallowances and tax-deduction-at-source default, allowing the assessee's effective grounds. Case-Laws Income Tax Wed, 10 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778229