The Tribunal held that the Assessing Officer will examine the provisions of the respective tax treaty and compute thee admissible tax credit separately for each jurisdiction in accordance with the scheme of related treaty. Matter remanded. Department appeals such as provision for wages, amortisation of premium, perpetual bonds etc are covered by jurisdictional High Court hence dismissed. (AY. 2015-16)
Bank of India v. ACIT (2021) 209 TTJ 301 / 197 DTR 134 (Mum.)(Trib.)
S. 90 : Double taxation relief-Tax credit-Assessing Officer will examine the provisions of the respective tax treaty and compute thee admissible tax credit separately for each jurisdiction-Matter remanded. [S. 37(1), 90(3), 280Z, A297(2)(k), General Clauses Act, S 24]