Case Law Details
Case Name : Transocean Offshore International Ventures Ltd. Vs DCIT (ITAT Delhi)
Appeal Number : ITA No. 5895/Del/2017
Date of Judgement/Order : 28/01/2022
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Delhi
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Transocean Offshore International Ventures Ltd. Vs DCIT (ITAT Delhi)
Gist of the pronouncement – Interest on income tax refund received by the non-resident companies shall be taxable as per the provision of Tax Treaty irrespective of the fact that whether the assessee has PE in India or not.
Assessee’s Stand – Assessee company offered the interest on income tax refund as per the beneficial provision of Article 11 of the India USA Tax Treaty (i.e @15%)
Department’s Stand – Tax authorities taxed the impugned income as per the provision of the Income Tax Act at maximum marginal tax (i.e @40%)
Held by the Hon’ble ITAT:
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