Section 9, read with section 195, of the Income-tax Act, 1961 read with article 11 of the OECD

IT/ILT : Where interest payment made by Indian branch of assessee to its head office abroad was allowed as deduction in computing profits of assessee's branch in India, therefore, section 195 would not be applicable on said payment
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[2015] 53 taxmann.com 105 (Calcutta)
HIGH COURT OF CALCUTTA
Bank of Tokyo Mitsubishi Ltd.
v.
Director of Income-tax, International Taxation, Mumbai*
SOUMITRA PAL AND ARINDAM SINHA, JJ.
IT APPEAL NO.175 OF 2004†
NOVEMBER  17, 2014
Section 9, read with section 195, of the Income-tax Act, 1961 read with article 11 of the OECD Model Convention - Income - Deemed to accrue or arise in India (Interest) - Assessment year 1995-96 - Whether interest payment made by Indian branch of assessee to its head office abroad was to be allowed as deduction in computing profits of assessee's branch in India - Held, yes - Whether assessee was not liable to pay any tax on said payment under section 195 - Held, yes [Para 2] [In favour of assessee]