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Case Law Details

Case Name : Barclays Bank Plc, Mumbai Vs Addl. DIT (ITAT Mumbai)
Appeal Number : I.T.A./584/Mum/2011 and I.T.A./4235/Mum/2014
Date of Judgement/Order : 12/01/2018
Related Assessment Year :
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Advocate Akhilesh Kumar Sah

If no tax is deductible under section 195(1), section 40(a)(i) of the IT Act will not come in the way of the appellant claiming such deduction from its income: Barclays Bank Plc case

In Barclays Bank Plc, Mumbai vs. Addl. DIT, Mumbai (ITAT Mumbai) [I.T.A./584/Mum/2011 and I.T.A./4235/Mum/2014, decided on 12.01.2018], assessee-company was engaged in the business of structuring of asset liability, risk management services, underwriting for domestic rupees/debt instruments in India through the investment banking its returned incomes, assessed incomes, etc, for the captioned year were summarized as under:-

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