Foreign Tax Deduction Not Allowed as Business Expense: ITAT Chennai Rejects Zoho’s Claim

Zoho Corporation Private Limited Vs DCIT (ITAT Chennai) Zoho Corporation’s Failed Bid to Claim Foreign Tax as Business Expense In a significant ruling that clarifies the treatment of foreign taxes under Indian income tax law, the Income Tax Appellate Tribunal (ITAT), Chennai Bench, has rejected Zoho Corporation’s attempt to claim foreign taxes as a business expense. The case, decided on 7th February 2025, provides crucial guidance on the interplay between foreign tax credits and business expense deductions. Zoho Corporation Private Limited, a software development company, found it...