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2011 (9) TMI 1006 - AT - Income TaxMistake apparent from records under section 154 - rectification of mistake - change in taxability of interest of income tax refund - assessee was deemed to have a PE in India - Held that:- We hold that the interest on income-tax refund is not effectively connected with permanent establishment either on the basis of asset-test or activity-test. Accordingly it is held that this part of the interest is taxable under para 2 of Article 11. Ground No. 2 raised by the assessee is accordingly allowed. Since the assessee succeeds on ground No. 2, the other grounds are not being adjudicated being academic in nature.
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