Provision of DTAA is applicable on the interest amount under the IT Act, clarifies ITAT

Last updated: 13 September 2021

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The Income Tax Appellate Tribunal (ITAT) has ruled that the provisions of a Double Taxation Avoidance Agreement (DTAA) are applicable to interest income. The tribunal allowed an appeal by M/s Mondon Investments Ltd., stating that the Assessing Officer (AO) had erred in making a significant adjustment for deemed interest income. The case involved convertible debentures subscribed to by a Cyprus-incorporated company.

Court :
ITAT Delhi

Brief :
The present appeal has been filed by the assessee against the order passed by the ld. CIT(A)-44, New Delhi dated 06.01.2016.

Citation :
ITA No. 3303/Del/2016

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

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3 Years PLAN

4999

(Excl. of GST ₹899)

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Attached File : 1442821_4409_1630584742_3303_mondon_investments_ltd_.pdf

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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