Assessee filed an application under section 197 before Assessing Officer seeking to issue a certificate authorising assessee to receive dividend income from an Indian company subject to lower withholding tax rate of 5 per cent as applicable under India-Switzerland DTAA read with protocol and Most Favoured Nation (‘MFN’) clause. Application was rejected and directed to deduct tax at rate  of 10 percent. On writ the Court held that the dividend received by a Switzerland based company from Indian company will bear a lower withholding tax rate of 5 per cent instead of 10 per cent in view of MFN clause and DTAA between India and Switzerland and therefore, certificate prescribing rate of 10 per cent was to be set aside and a certificate under section 197 would be issued in favour of assessee indicating rate of tax on dividend as applicable upon assessee at 5 per cent.