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2012 (12) TMI 737 - HC - Income TaxRoyalty and fees for technical services - whether taxable on receipt basis ? - Held that:- As under Article IIXA of the DTA Treaty with the Federal Germany Republic as per Notification dated 26th August 1985 the assessment of royalty or any fees for technical services should be made in the year in which the amounts are received and not otherwise - ITAT in holding that royalty and fees for technical services should be taxed on receipt basis cannot be faulted - in favour of assessee. Levy of interest u/s 234B - Held that:- As decided in DIT (INTERNATIONAL TAXATION) Versus NGC NETWORK ASIA LLC [2009 (1) TMI 174 - BOMBAY HIGH COURT] when a duty is cast on the payer to pay the tax at source, on failure, no interest can be imposed on the payee-assesses - in favour of assessee.
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