No Separate Approval Needed for 10% FTS Tax Benefit Where RBI Automatic Route Applies

Advertisement Gemological Institute International Vs DCIT (ITAT Mumbai) The appeal before the ITAT Mumbai arose from the final assessment order dated 24 December 2024 passed under sections 143(3), 144C(13), and 254 of the Income-tax Act. The assessee, a tax resident of the United States engaged in providing gem trading, training, technical and allied services, challenged the application of a 15% tax rate under Article 12 of the India–USA Double Taxation Avoidance Agreement (DTAA), the levy of education cess, and the levy of interest under section 234B. During the original assessment, the ...