https://www.taxtmi.com/caselaws?id=788363 Tribunal held that where a taxpayer's interest free own funds exceed investments in tax exempt instruments, those investments are presumed financed from own funds and disallowance under the interest disallowance rule cannot be sustained absent proof of diversion; expenses of overseas NRI desks meeting the tripartite test (incurred outside India, of executive/general administration character, and corresponding to specified items) qualify as head office expenditure and are subject to the statutory cap; deduction under the business expense provision must be given effect before computing the head office expense limit in adjusted total income; TDS obligation arises only on credit or payment to a nonresident so section 40(a)(i) disallowance was untenable; the retail banking sale met the slump sale test, attracting lump sum capital gains computation. en-us Wed, 18 Mar 2026 00:00:00 +0530 Fri, 20 Mar 2026 08:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788363 Tribunal held that where a taxpayer's interest free own funds exceed investments in tax exempt instruments, those investments are presumed financed from own funds and disallowance under the interest disallowance rule cannot be sustained absent proof of diversion; expenses of overseas NRI desks meeting the tripartite test (incurred outside India, of executive/general administration character, and corresponding to specified items) qualify as head office expenditure and are subject to the statutory cap; deduction under the business expense provision must be given effect before computing the head office expense limit in adjusted total income; TDS obligation arises only on credit or payment to a nonresident so section 40(a)(i) disallowance was untenable; the retail banking sale met the slump sale test, attracting lump sum capital gains computation. Case-Laws Income Tax Wed, 18 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788363