https://www.taxtmi.com/caselaws?id=175860 Article 26 of the India-France tax treaty was held not to bar a higher tax rate on a French banking company than on a domestic company. The Authority found that non-discrimination protects against taxation that is more burdensome in substance in comparable circumstances, but it does not require identical tax rates where municipal law makes a bona fide classification between differently situated taxpayers. It further held that a French bank was not similarly placed to a nationalised Indian bank because their functions, obligations, and objectives differed. The treaty also did not override the annual Finance Act rate structure, and the applicant was not entitled to the domestic company rate. en-us Fri, 04 Dec 1998 00:00:00 +0530 Mon, 07 Dec 2015 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175860 Article 26 of the India-France tax treaty was held not to bar a higher tax rate on a French banking company than on a domestic company. The Authority found that non-discrimination protects against taxation that is more burdensome in substance in comparable circumstances, but it does not require identical tax rates where municipal law makes a bona fide classification between differently situated taxpayers. It further held that a French bank was not similarly placed to a nationalised Indian bank because their functions, obligations, and objectives differed. The treaty also did not override the annual Finance Act rate structure, and the applicant was not entitled to the domestic company rate. Case-Laws Income Tax Fri, 04 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175860