The expression ‘may also be taxed’ used in Article 7 permits only the State of Source to tax such income and the State of Residence is precluded from taxing such income

DCIT Vs M/S. Essar Oil Limited (ITAT Mumbai)- Whether the profits of Oman PE and the loss of Qatar PE of the taxpayer are to be excluded for tax purposes in India, as per Article 7 of respective DTAAs?

As far as exclusion of profits of the Oman PE are concerned, the revenue authorities admitted that the High Court has upheld the orders of the Tribunal on an identical issue for AYs 1999-00 to 2001-02 and therefore, the same was accepted. However, in context of the India-Qatar DTAA, the revenue pointed

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