High Court Grants Tax Relief under India-Swiss Agreement

The High Court set aside the impugned orders and directed the issuance of a certificate under section 197 of the Income-tax Act, 1961 in favor of the petitioner, applying a 5% tax rate on dividends under the India-Swiss Double Taxation Avoidance Agreement.

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The High Court Delhi High Court judgment in 2021 (6) TMI 1117 stated that the impugned orders dated January 4, 2021 and March 11, 2021 are set aside. A certificate under section 197 of the Income-tax Act, 1961 will be issued in favor of the petitioner, indicating a 5% tax rate on dividends under the India-Swiss Double Taxation Avoidance Agreement.

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