9911796707
TMI Blog2021 (12) TMI 715X X X X Extracts X X X X X X X X Extracts X X X X ..... Through: Mr.Puneet Rai, Sr. Standing Counsel. MANMOHAN, J. (Oral) 1. Present writ petition has been filed challenging the certificate dated 18th November, 2021 read with the impugned order passed by the Respondent directing Galderma India to deduct tax @ 10% on dividend income to be paid to the Petitioner for the relevant Financial Year. Petitioner also seeks a direction allowing Galderma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntity, the Petitioner claims lower tax rate of 5% provided in India- Columbia DTAA by relying on the MFN clause in para 5 of the protocol to the India-Switzerland DTAA which was signed between India and Switzerland on 30th August, 2010 and is effective from 27th December, 2011. 4. Learned Counsel for the Petitioner submits that this issue is already settled by this Court in Steria (India) Ltd. v. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urther reiterates that the Revenue has not accepted the decision of this Court in the cases of Concentrix Services Netherlands B.V. v. ITO (TDS) and Nestle SA v. Assessing Officer, Circle v. ACIT WP(C) 3243/2021 and is in process of filing Special Leave Petitions before the Hon'ble Supreme Court. 8. Having heard learned counsels for the parties this Court finds that the issues raised in the prese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Revenue cannot be a ground for not following the decision of higher authority. 10. Keeping in view the aforesaid, the impugned order and certificate are set aside and the respondent is directed to issue a certificate under Section 197 of the Act indicating therein, that the rate of tax, on dividend, as applicable qua the Petitioner is 5% in IndiaW. Switzerland DTAA as held in Nestle SA (Supra) ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
