https://www.taxtmi.com/caselaws?id=210052 The Special Bench concluded that the interest on income-tax refund is not effectively connected with the Permanent Establishment (PE) and is taxable under paragraph no. 2 of Article XI at 15% on a gross basis. However, the interest from the bank on fixed deposits, being effectively connected with the PE, is taxable under Article VII. The order was pronounced on 6th May, 2011. en-us Fri, 06 May 2011 00:00:00 +0530 Thu, 04 Jul 2013 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210052 The Special Bench concluded that the interest on income-tax refund is not effectively connected with the Permanent Establishment (PE) and is taxable under paragraph no. 2 of Article XI at 15% on a gross basis. However, the interest from the bank on fixed deposits, being effectively connected with the PE, is taxable under Article VII. The order was pronounced on 6th May, 2011. Case-Laws Income Tax Fri, 06 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210052