Tribunal held that Rate of tax on Royalty on three wheelers received by assessee an Italy based company from its Indian AE, pursuant to technology license agreement entered between assessee and its AE in India, effective from 1-04-2008, being covered by sub-clause (AA) of section 115A(1)(b), will be 10.50 per cent . ( AY. 2012-13 , 2013-14)
Piaggio & C.S.P.A. v. DIT (2019) 175 ITD 304/ 70 ITR 1 (SN) (Pune)(Trib.)
S. 115A : Foreign companies–Tax–Royalty–In terms of technology license agreement entered into by assessee an Italy based company with its Indian AE effective from 1-04-2008, being covered by sub-clause (AA) of section 115A(1)(b), rate of tax on royalty recieved by assessee will be 10.50 per cent-DTAA- India Italy. [S.90(2), 195A]