2016-TII-INSTANT-ALL-330
20 May 2016   

Legal Wrangle - Episode 40 (Corporate Law)

Legal Wrangle - Episode 40 (Corporate Law)

CASE LAW

2016-TII-32-HC-MAD-INTL

ANSALDO ENERGIA SPA Vs CIT : MADRAS HIGH COURT (Dated: April 20, 2016)

Income tax - Section 244-A & Indo Italy DTAA - Article 12.

Keywords - debt claim - income tax refund - interest payable & tax at source.

Whether the income tax refund dues and the interest payable thereon to an Italian resident company, is liable to be treated as 'debt claims' within the meaning of Article 12.4 of the Indo Italy DTAA - YES: HC

Whether the interest payable to an Italian resident entity on the refund of income tax u/s 244-A, is covered within the definition of the term 'interest' under Article 12.4 of the Indo Italy DTAA - YES: HC

Assessee's appeal allowed

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