Assessee-company, formed and incorporated in USA, was engaged in manufacturing glass fiber in India. During year, assessee had leased out alloys including rhodium and platinum owned by it to two companies in India, namely, OCIPL and OCIIPL and received lease rentals in respect of same-OCIPL and OCIIPL further sent same to OCSPL, a Singapore based company, for re-fabrication of bushings. Assessing Officer held that receipts of assessee on account of lease rentals was taxable as royalty as per section 9(1)(vi) and article 12(3) of DTAA as it was earned out of leasing out license to use intellectual rights of economic beneficial rights of drawing and design of bushings. On appeal the Tribunal held that the assessee merely provided alloys, therefore, consideration for alloys could not be treated as royalty under section 9(1)(vi) as well as article 12 of DTAA between India and USA.  (AY. 2013-14, 2014-15)