2016 (3) TMI 1096

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.... This is an appeal filed by the assessee against the direction of DRP-I, Mumbai, dated 5-9-2012, for the assessment year 2009-2010, in the matter of order passed u/s.144C(5) of the Act. 2. In this appeal the assessee is aggrieved for taxing corporate guarantee commission amounting to Rs. 42,31,646/- under Article 23 of DTAA between India and France. 3. Rival contentions have been heard and reco....

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....taxed the same by holding it to be "Other Income" under Article 23 of the DTAA between India and France. 4. The assessee is before us against the said addition. 5. We have considered rival contentions and found that the AO taxed the guarantee commission on the plea that guarantee has been provided for the purpose of raising finance by an India company. As per the AO finance was raised in India. ....