Tag Archives: FCCB

Interest paid to NR on FCCB won’t accrue or arise in India if borrowed sum is utilized for overseas business

By | December 21, 2015

Suzlon Energy Limited v. ACIT [Ahmedabad ITAT] ITA No. 3773 of 2008, 113, 2052 of 2009, 3475 & 3476 of 2010 Date of Decision: September 03, 2015 Facts of the Case The assessee, an Indian company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) at various units, Daman and Pondicherry Dhule. The… Read More »