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Director of Income-Tax (International Taxation) Versus Oman International Bank S.A.O.G.

2015 (7) TMI 1127 - BOMBAY HIGH COURT

Addition on account of interest received from head office - Held that:- Tribunal was correct in holding that addition on account of interest received from head office has been wrongly made by the Assessing Officer. The respondent-assessee has not cla .....

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e and under section 37(1) of the Income-tax Act. See Commissioner of Income-Tax Versus Emirates Commercial Bank Ltd. [2003 (4) TMI 2 - BOMBAY HIGH COURT] - I. T. A. No. 1775 of 2013 with I. T. A. No. 1789 of 2013 - Dated:- 1-7-2015 - M. S. Sanklecha .....

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s by the Revenue challenges the common order dated March 22, 2013, passed by the Income-tax Appellate Tribunal (the "Tribunal") disposing of the cross appeals filed by the assessee as well as the Revenue before it for the assessment years 1 .....

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ing that addition on account of inter est received from head office has been wrongly made by the Assess ing Officer ?" 3. The only other question being urged by him for admission in both the assessment years before us is question No. 3 as formul .....

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are allowable and under section 37(1) of the Income-tax Act without appreciating the fact that the travelling expenses are incurred on travelling of head office personnel who have travelled to various Indian branches and they are not employees of the .....

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Tax Appeal No. 1430 of 2013 in the case of DIT (Intnl. Txn.) v. Credit Agricole Indosuez rendered on June 17, 2015 - [2015] 377 ITR 102 (Bom) being question No. 5 therein. In this case similar to that in M/s. Credit Agricole Indosuez, the respondent .....

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