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2018 (2) TMI 1517 - AT - Income TaxRectification of mistake - FTS has to be taxed at a concessional rate of 15% of the gross receipts as per the provision of Article 13(2) of the DTAA as against higher rate of tax provided at 20% of gross receipts u/s 115A of the Act - Held that:- In the present case there is an agreement between India and U.K. for avoidance of double taxation and therefore the assessee is entitled to plead that taxability has to be as per the provision of the Act or the DTAA whichever is beneficial is to the assessee. Since the taxability of FTS at 15% of the gross receipts as per Article 13(2)(bb)(ii) is more favourable than the provision of section 115A of the Act, the FTS in question has to be taxed at 15% on gross basis as per the DTAA. We are of the view that the mistake pointed out in the miscellaneous applications is apparent in the face of the record. Even assuming that the long drawn processing of reasoning is required to decide the miscellaneous application but if ultimately there can be only one possible view then it cannot be said that the power to rectify such mistake is outside the ambit of section 254(2) of the Act. The ld. DR’s arguments that the assessee is seeking review of the order of the tribunal is not correct.
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