https://www.taxtmi.com/caselaws?id=753119 The Calcutta HC held that a foreign company incorporated outside India must be taxed at the higher rate applicable to "company other than a domestic company" under the Finance Act, not the domestic company rate. The court determined that under Section 2(22A) of the Income Tax Act 1961, only Indian companies or foreign companies meeting specific conditions qualify as domestic companies. Since the appellant admitted it was a foreign company that did not fulfill the prescribed conditions for domestic status, it fell under the higher tax rate category. The court found no conflict between the Income Tax Act provisions and the India-Netherlands DTAA Article 24(2), ruling that the non-discrimination clause applies only within the same class of companies, not between different classes. en-us Wed, 22 May 2024 00:00:00 +0530 Fri, 24 May 2024 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753119 The Calcutta HC held that a foreign company incorporated outside India must be taxed at the higher rate applicable to "company other than a domestic company" under the Finance Act, not the domestic company rate. The court determined that under Section 2(22A) of the Income Tax Act 1961, only Indian companies or foreign companies meeting specific conditions qualify as domestic companies. Since the appellant admitted it was a foreign company that did not fulfill the prescribed conditions for domestic status, it fell under the higher tax rate category. The court found no conflict between the Income Tax Act provisions and the India-Netherlands DTAA Article 24(2), ruling that the non-discrimination clause applies only within the same class of companies, not between different classes. Case-Laws Income Tax Wed, 22 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753119