On a writ petition the court set aside the orders passed by the Assessing Officer Circle (International Taxation) and directed issuance of a certificate under section 197 of the Income-tax Act, 1961 to the assessee indicating therein, that the rate of tax, on dividend, as applicable against the assessee was 5 per cent. under the Double Taxation Avoidance Agreement between India and the Switzerland. Referred Concentrix Netherlands B.V. v. ITO (2021) 434 ITR 516 (Delhi)(HC).
Nestle Sa v.AO (IT) (2022) 445 ITR 463 (Delhi)(HC)
S. 197 : Deduction at source-Certificate for lower rate-Dividends-Rate of deduction-Direction was issued for issuance of certificate permitting deduction at 5 Per Cent. DTAA-India-Switzerland. [Art. 226]