https://www.taxtmi.com/caselaws?id=60125 The appeal involved a dispute over the taxability of interest charged on doubtful debts by a non-resident company in India. The Income Tax Appellate Tribunal (ITAT) held that interest on sticky advances should be included in total income, reversing the Commissioner's decision to allow a deduction based on a withdrawn circular. Regarding expenses incurred for raising funds in London, the ITAT allowed the deduction for interest expenses but directed the assessing officer to further examine other components of the expense. The ITAT partially allowed the departmental appeal and addressed cross-objections accordingly. en-us Fri, 14 Mar 1986 00:00:00 +0530 Mon, 03 Jan 2011 17:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60125 The appeal involved a dispute over the taxability of interest charged on doubtful debts by a non-resident company in India. The Income Tax Appellate Tribunal (ITAT) held that interest on sticky advances should be included in total income, reversing the Commissioner's decision to allow a deduction based on a withdrawn circular. Regarding expenses incurred for raising funds in London, the ITAT allowed the deduction for interest expenses but directed the assessing officer to further examine other components of the expense. The ITAT partially allowed the departmental appeal and addressed cross-objections accordingly. Case-Laws Income Tax Fri, 14 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60125