TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of In the ITAT Delhi judgment, the primary issue was the denial of benefit under Article 11 of the India-Cyprus DTAA regarding interest income on Compulsory Convertible Debentures (CCDs). The key argument was whether the appellant, a Cyprus tax resident, was the beneficial owner of the income. The tribunal held that the appellant had the right to receive the interest income on CCDs without any obligation to pass it on, bearing all related risks. As the beneficial owner, the appellant was entitled to the concessional tax rate u/s Article 11(2) of the treaty, rejecting the AO's decision to tax at 40%. The tribunal ruled that the interest income on CCDs should be taxed at 10% u/s the India-Cyprus DTAA, allowing the appellant's grounds.
TaxTMI 
TaxTMI 
