https://www.taxtmi.com/caselaws?id=420949 The Tribunal allowed the appeal, directing the AO to follow earlier decisions and the Supreme Court's ruling, favoring the assessee on the taxability of software and subscription income. The correct tax rate of 10% under the DTAA was to be applied to subscription and software income. The Tribunal also instructed verification and application of the 5% tax rate on interest income, and reconsideration of levying interest under Sections 234A and 234B. The initiation of penalty proceedings under Section 271(1)(c) was questioned based on the favorable outcome for the assessee. en-us Fri, 08 Apr 2022 00:00:00 +0530 Fri, 09 Sep 2022 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420949 The Tribunal allowed the appeal, directing the AO to follow earlier decisions and the Supreme Court's ruling, favoring the assessee on the taxability of software and subscription income. The correct tax rate of 10% under the DTAA was to be applied to subscription and software income. The Tribunal also instructed verification and application of the 5% tax rate on interest income, and reconsideration of levying interest under Sections 234A and 234B. The initiation of penalty proceedings under Section 271(1)(c) was questioned based on the favorable outcome for the assessee. Case-Laws Income Tax Fri, 08 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420949