Disallowances under Section 14A, 37, and 115JA are deleted for foreign banks on multiple issues
Disallowances under Section 14A, 37, and 115JA are deleted for foreign banks on multiple issues Issue Whether the various additions and disallowances made by the Assessing Officer concerning Section 14A exempt income expenses, broken period interest on stock-in-trade, MAT applicability to banking companies, gross taxation of foreign currency loans, intra-entity transactions with the Head Office,… Read More »