Allowing the appeal of the assesse the Tribunal held that ; provisions of sub-article (1) and (2) of article 12 of India-France DTAA would apply only when recipient of interest was not having a permanent establishment in country where it had received interest.( AY. 2005 -06 )
Credit Agricole Corporate & Investment Bank v. DIT (IT) (2018) 168 ITD 553 (Mum) (Trib.)
S. 9(1)(v) : Income deemed to accrue or arise in India – Interest -DTAA would apply only when recipient of interest was not having a permanent establishment in country where it had received interest- DTAA- India –France [ Art. 12 ]