Dividends on Indian Depository Receipts not taxable in terms of Indo-Mauritius tax treaty

Barclays Capital Mauritius Limited Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that in terms of the provisions of the applicable tax treaty, i.e., Indo-Mauritius tax treaty, and as the provisions of the applicable tax treaty, being more beneficial to the assessee, override the provisions of the domestic law, the taxability of the dividends on the IDRs fails.

Facts-

The assessee is a tax resident of Mauritius. The assessee is registered with S

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