Income from Foreign Asset Earned through Pension mentioned in FA Schedule is Not Taxable in India

Sankha Mukherjee Vs ACIT (ITAT Kolkata) The issue under consideration is whether the addition on the income from foreign asset earned through the retirement plan mentioned in FA schedule is taxable in India or not? ITAT states that the Revenue wrongly applied Article 20 of the DTAA between India and USA whereas the case of the assessee falls under the purview of Article 16 of the said DTAA. According to him, the alleged income has not arisen in India. More so, no withdrawal was made during the year under consideration by the assessee, neither any dividend or capital gain was earned by the asse...