TMI Blog2015 (10) TMI 2810X X X X Extracts X X X X X X X X Extracts X X X X ..... agreements entered prior to 01.06.2005 were offered under the provisions of DTAA at the rate of 15% and income arising on account of agreements entered after 01.06.2005, were offered for taxas per the provisions of Section 115A of the Act, at 10% - HELD THAT:- We find that the issue raised by the Revenue in this appeal is squarely covered by the decision of the coordinate bench in IBM World Trade ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee is entitled to adopt provisions of Section 115A(1)(b)(AA) of the Income Tax for computing the tax payable on royalty income received in pursuance of agreements entered into after 1.6.2005 and provisions of Article 12 of the Indo-US DTAA for computing the tax payable on royalty income received in pursuance of agreements entered into after 1.6.2005. 2. The Hon'ble CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s would not have been construed to mean that neither the advance tax provisions are applicable to the cases covered u/s 195 nor the assessee are at liberty to evade their tax liability even though TDS is effected. 6. The Hon'ble CIT(A) has erred in holding that the assessee is not liable for levy of interest u/s 234B even though charging of interest is mandatory and consequential as per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), for a part of its income, whereas other income as per rates provided in Indo US DTAA on certain other income. In other words, income arising out of agreements entered prior to 01.06.2005 were offered under the provisions of DTAA at the rate of 15% and income arising on account of agreements entered after 01.06.2005, were offered for taxas per the provisions of Section 115A of the Act, at 10%. A ..... X X X X Extracts X X X X X X X X Extracts X X X X
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