2021 (10) TMI 1212

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....Mr. Ruchir Bhatia, Advocate. MANMOHAN, J. (Oral) 1. Present writ petition has been filed challenging the certificate dated 29^th September, 2021 as well as the order dated 12th August, 2021 (the correct date being 29^th September, 2021) issued by the first Respondent. Petitioner seeks directions to the Respondents to issue a fresh certificate under section 197 of the Income Tax Act, 1961 [th....

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....ates that during the current Financial Year ("FY") i.e. 2021-22, DFCPL proposes to distribute a dividend of INR 65.68 cr. to the Petitioner. 3. Learned counsel for the Petitioner states that the Petitioner filed an application dated 13th August, 2021 under Section 197 of the Act before the Assessing Officer (AO) requesting him to issue a certificate authorizing the Petitioner to receive dividen....

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.... India has entered into DTAAs with other OECD member countries being Slovenia / Lithuania / Colombia wherein tax rate on dividend income was agreed at a lower rate of 5%, owing to the MFN clause, the lower withholding rate shall also be applicable to any dividend income covered under the India-Netherlands DTAA. He further states that the Petitioner's application to withhold tax at a lower rate was....