Tribunal held that, Law of limitation will be governed by the law applicable when the order of Tribunal was passed and not as per amended law with effect from 1-06-2016 .( ie. Four years from the date of order) ( AY. 2005-06, 2007 -08). Since taxability of FTS is 15% earlier direction of Tribunal to tax at 20% is amended referred, India- UK DTAA art 13(2) and S. 115A ( AY. 2005-06, 2007 -08) (Refer Gifford & Partners Ltd v. ADI. (2016) 142 DTR 201/ 181 TTJ 849 (Kol) (Trib)
Gifford & Partners Ltd v. ADI. ( 2018) 169 ITD 224/193 TTJ 75 / 165 DTR 190 (Kol) (Trib.)
S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record –Law of limitation will be governed by the law applicable when the order of Tribunal was passed and not as per amended law with effect from 1-06-2016 Since taxability of FTS is 15% earlier direction of Tribunal to tax at 20% is amended -DTAA-India- UK[ S.115A, art. 13(2) ] .