https://www.taxtmi.com/caselaws?id=326223 A bona fide treaty claim under the India-Cyprus DTAA could not be denied merely because the assessee omitted the Special Income schedule in the return, where residency evidence and computation records showed a clear claim to the 10% treaty rate under Article 11. The omission was treated as an inadvertent technical defect, and the concessional rate was upheld. On interest from compulsory convertible debentures, Article 11 was read as taxing interest on a payment or receipt basis, not on accrual basis. The Revenue's accrual-based addition was therefore not sustained, and the interest was held taxable on receipt basis. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sat, 09 Apr 2016 07:59:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326223 A bona fide treaty claim under the India-Cyprus DTAA could not be denied merely because the assessee omitted the Special Income schedule in the return, where residency evidence and computation records showed a clear claim to the 10% treaty rate under Article 11. The omission was treated as an inadvertent technical defect, and the concessional rate was upheld. On interest from compulsory convertible debentures, Article 11 was read as taxing interest on a payment or receipt basis, not on accrual basis. The Revenue's accrual-based addition was therefore not sustained, and the interest was held taxable on receipt basis. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326223