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2017 (12) TMI 1337 - AT - Income TaxNon-constitution of Permanent Establishment ('PE') of the Appellant in India - receipts taxable u/s 115A or under Indo-German Treaty - Held that:- We hold that there is no merit in invoking provisions of section 115A of the Act in respect of interest and 115A r.w.s. 44DA of the Act in respect of support / royalty services, the receipts are to be taxed in the hands of assessee under Indo-German Treaty @ 10%. The Revenue except for stressing that appeal is pending before the Hon’ble Bombay High Court, has not brought on record any change in facts. The grounds of appeal raised by the Revenue are thus, dismissed and the grounds of appeal raised by the assessee in both the appeals are allowed. Stay of recovery of outstanding demand - Held that:- As pointed out that the assessee had filed Bank Guarantee of ₹ 25 lakhs against outstanding demand before the Assessing Officer on 08.12.2017. In view of our deciding the appeals in favour of assessee and allowing the grounds of appeal raised in assessment years 2012-13 and 2013-14, the Assessing Officer is directed to release the Bank Guarantee of ₹ 25 lakhs with immediate effect.
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