Section 206AA TDS Rate Doesn't Override DTAA: Favorable Tax Rates Apply for Non-Residents Without PAN.

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....TDS @ 20% on the foreign remittance u/s 206AA - absence of furnishing of Permanent Account Number (PAN) - Section 206AA of the Act does not override the provision of Section 92 of the Act and in that view of the matter in the case in hand the TDS has been deducted to the non-resident rightly applying the tax rate prescribed under the DTAAs and not as per Section 206AA of the Act, having regard to the more beneficial provision in the rate of tax made in the DTAA. Hence, we find no justification in making the assessee liable to pay TDS @ 20% on the foreign remittance - AT....