No Tax in India on Interest paid by Indian branch to its foreign head office

IN THE ITAT MUMBAI BENCH ‘L’ Deputy Director of Income-tax (International Taxation) v/s. Mizuho Corporate Bank Ltd. IT Appeal No. 7479 (Mum.) of 2007 [Assessment year 2004-05] July 25, 2012 ORDER P.M. Jagtap, Accountant Member This appeal is preferred by the revenue against the order of the Ld. CIT (A)-33, Mumbai dated 28.09.2007 on the following grounds: “1.  On the facts and in the circumstances of the case and in law, the Ld. CIT (A) erred in directing the Assessing Officer to delete the disallowance of Rs. 40,32,971/- made under section 40(a)(i) of the A...