Section 195 TDS on Foreign Interest Income Not Applicable: No Interest Paid or Claimed, Waived by Assessee.

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....TDS u/s 195 - interest income accrued in the hands of the foreign entity - There was no expenditure accrued during the previous year and also claimed and hence, the provisions of section 195 of the Act has no application. The interest payable was eventually waived, therefore, the assessee had not paid any interest. Since no interest was paid or claimed as expenditure, the provisions of section 195 of the Act cannot be applied. - AT....