Interest Received by Indian Branch from Overseas Head Office of American Express Is Not Taxable on Principle of Mutuality: ITAT | Biz Flow Kit
Interest Received by Indian Branch from Overseas Head Office of American Express Is Not Taxable on Principle of Mutuality: ITAT The Income Tax Appellate Tribunal (ITAT) Mumbai has held that interest transactions between an Indian branch and its overseas Head Office or foreign branches are transactions with self and, therefore, cannot give rise to taxable…