3. CIT (A) deleted the addition holding that the discount paid by the assessee to CFSA cannot be held to be interest and therefore, provisions of Section 40 (a) (i) of the Act would not apply.

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The U.S. is almost unique in the world of international taxation. Outside of Eritrea, it’s the only citizenship-based regime — meaning that all Americans, even those who live overseas and have no U.S.

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There is no evidence Bessent made the X post attributed to him. The account shown has been suspended, and no credible news reports support the claim.

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Though some social media users interpreted Elon Musk's X post as meaning the service was closed, its website remained active ...