Home Case Index All Cases Income Tax Income Tax + SCH Income Tax - 2023 (11) TMI SCH This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (11) TMI 1198 - SC ORDERApplication filed u/s 154 - seeking tax on interest income at 15%/10% under the DTAA regime by virtue of the Notification No.11438 issued with France - contention of the assessee was also that although the assessee(s) was not having any contract as such during the relevant period it was nevertheless engaged in business in the country and therefore, it was entitled to the benefit of deduction insofar as the expenses incurred are concerned. HELD THAT:- What is necessary to ascertain at this stage is the reason as to why the assessee(s) sought for rectification u/s 154 of the Act seeking a lesser rate of taxation to be imposed under the DTAA regime if the assessee(s) was not seeking to be taxed under the said regime. In response to the query of this Court, assessee(s) submitted that although such an application seeking rectification was made nevertheless the assessee(s) was being taxed under the provisions of the Act and was filing returns under the said Act. We direct the appellant/assessee(s) to produce the copy of the application or petition filed u/s 154 of the Act seeking rectification and also any other pleading or document which can enable this Court to come to a conclusion as to whether the assessee(s) intended to be taxed under the DTAA regime or under the provisions of the Income Tax Act. The order made by the Department u/s 154 of the Act also to be produced by the next date of hearing. List on 29.11.2023.
|