Chartered Universe — AI workspace for chartered accountants
LoginSign Up
Back to Articles
Tax & ComplianceTaxGuru

Section 40 BMA Interest Unsustainable on Disclosed Foreign Source: ITAT Chennai

15 Aug 2026 · 15 Aug 2026By CA Sandeep Kanoi

ITAT Chennai deletes BMA interest under Section 40, holding the disclosed foreign source and senior-citizen exemption defeated the interest levy. The post Section 40 BMA Interest Unsustainable on Disclosed Foreign Source: ITAT Chennai appeared first on TaxGuru .

This article was aggregated from TaxGuru. Continue reading for the complete story.

Read on TaxGuru

More Articles

General

#IndiaAt100 : Hisashi Takeuchi On Driving India’s Manufacturing Revolution

India’s ambition to become a global manufacturing powerhouse is accelerating, with the automobile industry at the centre of this transformation. In this #IndiaAt100 session, Hisashi Takeuchi, MD & CEO, Maruti Suzuki India, discusses how manufacturing can drive India’s next phase of growth. From loca

Business Today

General

HAL to restart production of Sukhoi Su-30MKI fighter jets at Nashik facility: Report

Besides new production, HAL's Nashik facility is expected to play a key role in a major upgrade of the existing Su-30MKI fleet.

Business Today

General

OpenAI vs Elon Musk: Why Cursor is losing access to OpenAI models from November 12

The decision is significant because Cursor has been an OpenAI customer for nearly four years and has integrated OpenAI models into its coding platform. Cursor co-founder and CEO Michael Truell said OpenAI models account for about 5% of Cursor's user traffic.

Business Today

General

Nifty Rally Gets A Boost From Falling Oil: Vaishali Parekh On What Comes Next

The Indian stock market is showing renewed strength as easing crude oil prices and hopes of smoother movement through the Strait of Hormuz improve investor sentiment. With the Nifty trading above 24,350, the key question now is whether the index can decisively cross the 24,400 resistance level and s

Business Today