https://www.taxtmi.com/caselaws?id=793400 The article examines an ITAT Mumbai ruling on an Indian bank branch's tax treatment of intra-entity interest, hub support charges, broken period interest, expatriate salary, mark-to-market loss on forward contracts, diminution in current investments, and section 14A. It notes that interest from head office and overseas branches was treated as payment to self and not taxable in India; hub expenses and expatriate salary were allowed as direct business expenditure outside section 44C; broken period interest, forward contract losses, and diminution in investment value were allowed as business deductions; and section 14A was held not to require disallowance on the facts. The Revenue's additions and disallowances were deleted. en-us Fri, 12 Jun 2026 00:00:00 +0530 Mon, 15 Jun 2026 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793400 The article examines an ITAT Mumbai ruling on an Indian bank branch's tax treatment of intra-entity interest, hub support charges, broken period interest, expatriate salary, mark-to-market loss on forward contracts, diminution in current investments, and section 14A. It notes that interest from head office and overseas branches was treated as payment to self and not taxable in India; hub expenses and expatriate salary were allowed as direct business expenditure outside section 44C; broken period interest, forward contract losses, and diminution in investment value were allowed as business deductions; and section 14A was held not to require disallowance on the facts. The Revenue's additions and disallowances were deleted. Case-Laws Income Tax Fri, 12 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793400