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2024 (2) TMI 537 - ITAT DELHIApplicability of the MFN benefits into the India Netherlands DTAA - favorable benefit of lower tax rate of 5% to dividend income - HELD THAT:- AR conceded that issue decided in favour of the Revenue because without a separate notification, applicability of the MFN clause and benefit of restricted scope of source taxation in relation to the income on Dividend cannot be allowed to the assessee. As there is no specific notification for the applicability of the MFN benefits into the India Netherlands DTAA. Ld. DR has no objection. In view of the above factual matrix, the Ground No. 1 is dismissed. Charging tax at 15% plus surcharge and cess on assessed income in computation sheet in contrary of levy of tax at 10% in accordance with the assessment order - HELD THAT:- We deem it fit and proper to restore the matter for verification purpose and decide the same in accordance with law. Needless to say that the assessee should be given an opportunity of being heard. Levy of interest u/s 234A & 234B is consequential in nature - AO is directed to re-compute the interest u/s. 234A & 234B, if any, afresh in accordance with law.
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