2001 (2) TMI 119

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..... has been referred to this court, viz., "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the gross interest payment which has been incurred in the foreign branches is entitled to deduction under section 35B ?" The assessee-bank which has its registered office within the jurisdiction of this court, and has branches outside India includi .....

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..... urposes of section 35B(1)(b) of the Act. The said view of the Income-tax Officer was confirmed by the Commissioner also. But, however, the Tribunal disagreed and held that the assessee was entitled to benefit under section 35B of the Act. A similar question came up for consideration before this court, in the case of the very same assessee, reported in CIT v. Indian Bank [2000] 243 ITR 187which w .....

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