https://www.taxtmi.com/caselaws?id=793942 Interest arising between an Indian branch and its head office or overseas branches is treated as a payment to self under domestic tax law and is not taxable income; related expenditure does not attract disallowance for exempt income. Interest from overseas banks is not taxable under the source rule unless the non-resident borrower used the funds for business or profession in India. Broken-period interest on securities held as stock-in-trade is deductible as revenue expenditure, and employee club entrance and subscription expenses may be deductible where incurred for business purposes. Bad-debt deduction requires the debtor's account to be reduced as prescribed. Interest for advance-tax shortfall cannot recover a refund granted on processing where the specific recovery provision was not in force. en-us Tue, 23 Jun 2026 00:00:00 +0530 Fri, 26 Jun 2026 07:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793942 Interest arising between an Indian branch and its head office or overseas branches is treated as a payment to self under domestic tax law and is not taxable income; related expenditure does not attract disallowance for exempt income. Interest from overseas banks is not taxable under the source rule unless the non-resident borrower used the funds for business or profession in India. Broken-period interest on securities held as stock-in-trade is deductible as revenue expenditure, and employee club entrance and subscription expenses may be deductible where incurred for business purposes. Bad-debt deduction requires the debtor's account to be reduced as prescribed. Interest for advance-tax shortfall cannot recover a refund granted on processing where the specific recovery provision was not in force. Case-Laws Income Tax Tue, 23 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793942