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Home › All Judgements › CIT vs. Arthusa Offshore (Uttarakhand High Court)

CIT vs. Arthusa Offshore (Uttarakhand High Court)

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DATE: April 23, 2008 (Date of publication)
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The word “tax”in Articles 14(2) and 2(1)(b) of the India-USA DTAA includes “surcharge” and for purposes of Article 14(2) which provides that the rate of tax payable by a USA company shall not exceed 15% of the rate payable by domestic companies, the surcharge payable by domestic companies has to be included.

Note: The decision of the ITAT Bombay in Bank of America Vs. DCIT 73 TTJ 51 was disapproved.

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