Payment to Master & Visa without tax deduction is not disallowable

Whether on the facts and in the circumstances of the case and in law, the Tribunal is correct in holding that payment to Master Card International and Visa Card International without deduction of tax at source is not disallowable u/s. 40(a)(i) in view of the Article 26(3) of the Indo US DTAA, when the provisions of Article 26(3) were not attracted in the case, and especially for the year in question. The Respondent­Assessee during subject Assessment Year made payment through Master Card International and Visa Card International being assessment and equipment fees. The payments were made by th...