Relief to MUFG Bank: ITAT holds Salary paid by Head Office to expatriate Employees working in Indian branches, allowable as Deduction [Read Order]

MUFG Bank - ITAT - Salary paid - expatriate Employees - Indian branches - Deduction - taxscan

The Income Tax Appellate Tribunal ( ITAT ), New Delhi Bench held that salary paid by head office to expatriate employees working in Indian branches, allowable as deduction, thereby granting relief to M/s. MUFG Bank Ltd. The assessee, M/s. MUFG Bank Ltd earlier known as the Bank of Tokyo Mitsubishi UFJ Ltd, is a non-resident…

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