https://www.taxtmi.com/caselaws?id=432190 Assured return received from a builder on advance payments for booking of units was treated as interest under Article 12 of the India-UK DTAA because the advance created a debt-claim and no proprietary interest in the unit arose until conveyance was executed and registered. The fixed monthly payment was therefore regarded as return on finance made available for construction, not income from other sources. The coordinate bench's earlier view on identical facts was followed, and the receipt was taxed as treaty interest. en-us Mon, 07 Nov 2022 00:00:00 +0530 Fri, 30 Dec 2022 09:53:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432190 Assured return received from a builder on advance payments for booking of units was treated as interest under Article 12 of the India-UK DTAA because the advance created a debt-claim and no proprietary interest in the unit arose until conveyance was executed and registered. The fixed monthly payment was therefore regarded as return on finance made available for construction, not income from other sources. The coordinate bench's earlier view on identical facts was followed, and the receipt was taxed as treaty interest. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432190