https://www.taxtmi.com/caselaws?id=463777 Interest credited by an overseas head office to its Indian permanent establishment was treated as a payment to self under domestic law, so it did not form part of taxable income in India. Broken period interest paid on purchase of securities remained deductible where the securities were held as trading assets and the related income was assessed as business income, because the bank's accounting method was not to be disturbed. The commentary therefore records that both tax issues were resolved in the assessee's favour, with the cross-objection not surviving independently. en-us Fri, 28 Sep 2012 00:00:00 +0530 Tue, 16 Sep 2025 12:05:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463777 Interest credited by an overseas head office to its Indian permanent establishment was treated as a payment to self under domestic law, so it did not form part of taxable income in India. Broken period interest paid on purchase of securities remained deductible where the securities were held as trading assets and the related income was assessed as business income, because the bank's accounting method was not to be disturbed. The commentary therefore records that both tax issues were resolved in the assessee's favour, with the cross-objection not surviving independently. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463777