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2023 (1) TMI 1112 - AT - Income TaxIncome accruing or arising in India - dividend on IDR - assessee has received dividend from Indian entity and the dividend had accrued/ paid to the assessee in India - DRP and AO after examining the transaction, facts of the case and Article-10 of the India – Mauritius DTAA rejected assessee’s contention, that the dividend on IDR is taxable in Mauritius - whether the assessee would be eligible for treaty benefit, if yes, whether the transaction would fall within the meaning of Article-10 or Article-22 of the DTAA? - HELD THAT:- As in case Morgan Stanley Mauritius Co Ltd. [2021 (5) TMI 968 - ITAT MUMBAI] in a lucid manner explained the provisions of Article- 10 and Article-22 and thereafter explained as to how the transaction would not fall within the ambit of Article 10 and hence, is covered by residuary Article - 22. The Tribunal after examining the transaction concluded that the taxability of IDR dividends fail in the light of India – Mauritius DTAA –Article 22. Revenue has not brought out any distinguishing feature in the transaction in assessee’s case and in the case of Morgan Stanley Mauritius Co Ltd vs. DCIT (supra). In the absence of any contrary material, we see no reason to take any other view except to follow the order of Co-ordinate Bench on identical set of facts. Following the order of Tribunal in the case of Morgan Stanley Mauritius Co Ltd vs. DCIT (supra), Ground No.1 of appeal is allowed for parity of reasons
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