https://www.taxtmi.com/caselaws?id=118613 Where a tax treaty permits domestic-law taxation but caps the rate for specified income, the treaty ceiling prevails for that head of income and the domestic rate may still apply to other heads where the treaty allows it. On that basis, interest income was taxable at 15% under the India-USA treaty, and the objection that the assessee had adopted a pick-and-choose approach failed. TDS credit was treated as a consequential claim requiring verification by the Assessing Officer, with an opportunity of hearing, and the matter was restored for action in accordance with law. en-us Tue, 22 Nov 2005 00:00:00 +0530 Wed, 04 Jul 2012 14:58:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118613 Where a tax treaty permits domestic-law taxation but caps the rate for specified income, the treaty ceiling prevails for that head of income and the domestic rate may still apply to other heads where the treaty allows it. On that basis, interest income was taxable at 15% under the India-USA treaty, and the objection that the assessee had adopted a pick-and-choose approach failed. TDS credit was treated as a consequential claim requiring verification by the Assessing Officer, with an opportunity of hearing, and the matter was restored for action in accordance with law. Case-Laws Income Tax Tue, 22 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118613