Commission for Credit Cards issued by Foreign Bank Branches not Taxable in India: Delhi HC

The Delhi High Court ruled that commission earned by foreign bank branches in India for issuing credit cards is not taxable under Indian tax laws. The court based its decision on the fact that these services were rendered outside India and hence did not fall within the purview of Indian taxation. This ruling is significant for multinational banks and businesses operating cross-border, as it clarifies the taxability of foreign income under Indian laws, potentially reducing their tax liability in India.