Assessee computed tax at rate of 10 per cent in terms of section 115A(b) in respect of payment received by it as FTS, but Assessing Officer applied rate of 15 per cent as per article 12, since in all other assessment years, similar payment received by assessee had been taxed at rate of 10 per cent as per section 115A(1)(b), matter was to be remanded back. (AY. 2016-17)
Gemological Institute International Inc. v. CIT (2021) 214 TTJ 393 / (2022) 192 ITD 83 / 211 DTR 139 (Mum.)(Trib.)
S. 115A : Foreign companies-Tax-Dividends-Royalty-Technical services fees-Rate of tax-Matter remanded-DTAA-India-USA. [S. 115A(b), Art. 12]