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2005 (2) TMI 445 - ITAT BOMBAY-I
Extract:
.......s not liable to deduct withholding tax at the rate of 20 per cent in respect of the interest payment of US 105,902 to M/s Deutsche Bank-AG. With the result, we hereby quash the order passed under s. 195(2) of the IT Act as well as reverse the findings of learned CIT(A). We order accordingly. 23. In the result, the appeal of the assessee is allowed.