ACIT v. Clough Engineering Ltd.

130 ITD 137Income Tax Appellate Tribunal2011#2203 most cited

What is ACIT v. Clough Engineering Ltd. authority for?

Interest income, such as on income-tax refunds or fixed deposits, derived by a foreign entity with a Permanent Establishment (PE) in India is taxable under DTAA if the debt-claim is effectively connected or attributable to the PE. For DTAA purposes, the terms 'attributable' and 'effectively connected' are considered to have the same meaning.

52

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2025.

Also referred to as

ACIT v. Clough Engineering Ltd. · 130 ITD 137 · Permanent Establishment · PE · interest income taxability · income tax refund interest · effectively connected with PE · attributable to PE · DTAA Article 7 · DTAA Article 11 · Section 244A

Sections most often in play

Section 115ASection 143(3)Section 144C(13)Section 44CSection 244ASection 40(a)(i)Section 5(2)Section 234B

Issues it is cited on

section 44csection 9(1)(v)section 92ca(3a)section 35ddasection 92c(1)use of equipmentsection 35ddsection 244section 256(1)section 28(iv)section 9(1)(i)section 115a

Judgments citing ACIT v. Clough Engineering Ltd.

Standard Chartered Bank, Mumbai vs. DDIT (It) 2(1), Mumbai

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the Revenue is dismissed

ITA 4867/MUM/2017[2001-02]Status: DisposedITAT Mumbai13 Nov 2023AY 2001-02

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 14ASection 250Section 40

…-tax refund received under Section 244A of the Act to the Assessing Officer to be decided in the light of Indo-France DTAA and the decision of the Special Bench of the Tribunal in the matter of Assistant Commissioner of Income Tax vs. Clough Engineering Ltd. [130 ITD 137]. Page 66 of 90 (b) The grievance of the Revenue is with the impugned order following the decision of the Special bench in Clough Engineering Ltd. (supra). (c) However we find that the decision in Clough Engineering (supra) of the Special Bench had been followed by the Tribunal in ITA No.183/Mum/2010 [M/s DHL Operations B.V., the Netherlands vs…

Standard Chartered Bank, Mumbai vs. DDIT (It) 2(1), Mumbai

In the result, ground raised by the revenue is dismissed

ITA 3458/MUM/2009[2000-01]Status: DisposedITAT Mumbai13 Nov 2023AY 2000-01

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 14ASection 250Section 40Section 44C

…-tax refund received under Section 244A of the Act to the Assessing Officer to be decided in the light of Indo-France DTAA and the decision of the Special Bench of the Tribunal in the matter of Assistant Commissioner of Income Tax vs. Clough Engineering Ltd. [130 ITD 137]. (b) The grievance of the Revenue is with the impugned order following the decision of the Special bench in Clough Engineering Ltd. (supra). (c) However we find that the decision in Clough Engineering (supra) of the Special Bench had been followed by the Tribunal in ITA No.183/Mum/2010 [M/s DHL Operations B.V., the Netherlands vs. Dy. Director o…

M/S. Standard Chartered Bank, Mumbai vs. DDIT (I.T) - 2(1), Mumbai

In the result, the appeal of revenue is partly allowed

ITA 3377/MUM/2006[1998-1999]Status: DisposedITAT Mumbai13 Nov 2023AY 1998-1999

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 115JSection 145Section 195Section 195(1)Section 250Section 40Section 90(2)

…-tax refund received under Section 244A of the Act to the Assessing Officer to be decided in the light of Indo-France DTAA and the decision of the Special Bench of the Tribunal in the matter of Assistant Commissioner of Income Tax vs. Clough Engineering Ltd. [130 ITD 137]. (b) The grievance of the Revenue is with the impugned order following the decision of the Special bench in Clough Engineering Ltd. (supra). (c) However we find that the decision in Clough Engineering (supra) of the Special Bench had been followed by the Tribunal in ITA No.183/Mum/2010 [M/s. DHL Operations B.V., The Netherlands Vs. Dy. Director…

DCIT, Circle- 2, Intl. Taxation, Dehradun vs. Schlumberger Asia Services Ltd., Dehradun

In the result, the appeal of the assessee for the Asst Year 2015-16 is partly allowed and that of the revenue is dismissed

ITA 5305/DEL/2018[2015-16]Status: DisposedITAT Dehradun15 Sept 2023AY 2015-16

Bench: Shri Saktijit Dey & Shri M. Balaganeshita No. 5223/Del/2018 (A. Y.: 2015-16) Schlumberger Asia Services Ltd, Vs. Dcit, 14Th Floor, Tower-C, Building Circle-2, No. 1, Dlf City, Phase-Ii, International Taxation, Gurgaon Dehradun (Appellant) (Respondent) Pan: Aadcs1107J

For Appellant: Shri P. J. Pardiwalla, Sr. AdvFor Respondent: Shri Mayank Kumar, JCIT, DR
Section 143(3)Section 44BSection 9(1)(vii)

…1986 issued in the context of section 115A of the Act. Hence it is a debt owed to the assessee in foreign currency. The ld. AR further placed reliance on the decision of Special Bench of Delhi Tribunal in the case of ACIT vs Clough Engineering Ltd reported in 130 ITD 137 (Delhi)(SB) dated 06.05.2011 in support of his contentions. The ld. AR also placed reliance on the decision of Ahmedabad Tribunal in the case of DCIT vs Sidhpur Isabgol Processing Co. reported in 13 taxmann.com 113 (Ahd Trib) to consider the CBDT Circular if the reliance placed thereon gives a logical and righteous conclusion. ITA No. 6126/Del/20…

Schlumberger Asia Services Ltd., Dehradun vs. DCIT, Circle- 2, Intl. Taxation, Dehradun

In the result, the appeal of the assessee for the Asst Year 2015-16 is partly allowed and that of the revenue is dismissed

ITA 5223/DEL/2018[2015-16]Status: DisposedITAT Dehradun15 Sept 2023AY 2015-16

Bench: Shri Saktijit Dey & Shri M. Balaganeshita No. 5223/Del/2018 (A. Y.: 2015-16) Schlumberger Asia Services Ltd, Vs. Dcit, 14Th Floor, Tower-C, Building Circle-2, No. 1, Dlf City, Phase-Ii, International Taxation, Gurgaon Dehradun (Appellant) (Respondent) Pan: Aadcs1107J

For Appellant: Shri P. J. Pardiwalla, Sr. AdvFor Respondent: Shri Mayank Kumar, JCIT, DR
Section 143(3)Section 44BSection 9(1)(vii)

…1986 issued in the context of section 115A of the Act. Hence it is a debt owed to the assessee in foreign currency. The ld. AR further placed reliance on the decision of Special Bench of Delhi Tribunal in the case of ACIT vs Clough Engineering Ltd reported in 130 ITD 137 (Delhi)(SB) dated 06.05.2011 in support of his contentions. The ld. AR also placed reliance on the decision of Ahmedabad Tribunal in the case of DCIT vs Sidhpur Isabgol Processing Co. reported in 13 taxmann.com 113 (Ahd Trib) to consider the CBDT Circular if the reliance placed thereon gives a logical and righteous conclusion. ITA No. 6126/Del/20…

DCIT, Circle- 2, Intl. Taxation, Dehradun vs. Schlumberger Asia Services Ltd., Dehradun

In the result, the appeal of the assessee for the Asst Year 2015-16 is partly allowed and that of the revenue is dismissed

ITA 6173/DEL/2017[2014-15]Status: DisposedITAT Dehradun15 Sept 2023AY 2014-15

Bench: Shri Saktijit Dey & Shri M. Balaganeshita No. 5223/Del/2018 (A. Y.: 2015-16) Schlumberger Asia Services Ltd, Vs. Dcit, 14Th Floor, Tower-C, Building Circle-2, No. 1, Dlf City, Phase-Ii, International Taxation, Gurgaon Dehradun (Appellant) (Respondent) Pan: Aadcs1107J

For Appellant: Shri P. J. Pardiwalla, Sr. AdvFor Respondent: Shri Mayank Kumar, JCIT, DR
Section 143(3)Section 44BSection 9(1)(vii)

…1986 issued in the context of section 115A of the Act. Hence it is a debt owed to the assessee in foreign currency. The ld. AR further placed reliance on the decision of Special Bench of Delhi Tribunal in the case of ACIT vs Clough Engineering Ltd reported in 130 ITD 137 (Delhi)(SB) dated 06.05.2011 in support of his contentions. The ld. AR also placed reliance on the decision of Ahmedabad Tribunal in the case of DCIT vs Sidhpur Isabgol Processing Co. reported in 13 taxmann.com 113 (Ahd Trib) to consider the CBDT Circular if the reliance placed thereon gives a logical and righteous conclusion. ITA No. 6126/Del/20…

Schlumberger Asia Services Ltd., Dehradun vs. DCIT, Circle- 2, Intl. Taxation, Dehradun

In the result, the appeal of the assessee for the Asst Year 2015-16 is partly allowed and that of the revenue is dismissed

ITA 6126/DEL/2017[2013-14]Status: DisposedITAT Dehradun15 Sept 2023AY 2013-14

Bench: Shri Saktijit Dey & Shri M. Balaganeshita No. 5223/Del/2018 (A. Y.: 2015-16) Schlumberger Asia Services Ltd, Vs. Dcit, 14Th Floor, Tower-C, Building Circle-2, No. 1, Dlf City, Phase-Ii, International Taxation, Gurgaon Dehradun (Appellant) (Respondent) Pan: Aadcs1107J

For Appellant: Shri P. J. Pardiwalla, Sr. AdvFor Respondent: Shri Mayank Kumar, JCIT, DR
Section 143(3)Section 44BSection 9(1)(vii)

…1986 issued in the context of section 115A of the Act. Hence it is a debt owed to the assessee in foreign currency. The ld. AR further placed reliance on the decision of Special Bench of Delhi Tribunal in the case of ACIT vs Clough Engineering Ltd reported in 130 ITD 137 (Delhi)(SB) dated 06.05.2011 in support of his contentions. The ld. AR also placed reliance on the decision of Ahmedabad Tribunal in the case of DCIT vs Sidhpur Isabgol Processing Co. reported in 13 taxmann.com 113 (Ahd Trib) to consider the CBDT Circular if the reliance placed thereon gives a logical and righteous conclusion. ITA No. 6126/Del/20…

ADIT (It) 1(2), Mumbai vs. Calyon Bank, Mumbai

ITA 4259/MUM/2014[2007-08]Status: DisposedITAT Mumbai11 Sept 2023AY 2007-08

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

Credit Agricole Corporate and Investment Bank, Mumbai vs. Asst DIT (It) 1(2), Mumbai

ITA 3103/MUM/2014[2007-08]Status: DisposedITAT Mumbai11 Sept 2023AY 2007-08

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

Asst DIT (It) 1(2), Mumbai vs. Credit Agricole Corporation & Investments Bank, Mumbai

ITA 1868/MUM/2014[2009-10]Status: DisposedITAT Mumbai11 Sept 2023AY 2009-10

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

Credit Agricole Corporate and Investments Bank, Mumbai vs. Asst DIT (It) 1(2), Mumbai

ITA 1504/MUM/2014[2009-10]Status: DisposedITAT Mumbai11 Sept 2023AY 2009-10

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

Credit Agricole Corporate and Investments Bank, Mumbai vs. Asst DIT (It) 1(2), Mumbai

ITA 1503/MUM/2014[2008-09]Status: DisposedITAT Mumbai11 Sept 2023AY 2008-09

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

ADIT (It) 1(2), Mumbai vs. Calyon Bank, Mumbai

ITA 1483/MUM/2014[2008-09]Status: DisposedITAT Mumbai11 Sept 2023AY 2008-09

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

Credit Agricole Corporate and Investment Bank ( Formerly Calyon Bank), Mumbai vs. ADIT (It) 1(2), Mumbai

ITA 9071/MUM/2010[2006-07]Status: DisposedITAT Mumbai11 Sept 2023AY 2006-07

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 Pan: Aaccc-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038 ......"ितवादी/Respondent आअसं.4259/मुं/2014 (िन.व. 2007-08) आअसं.1483/मुं/2014 (िन.व. 2008-09) आअसं.1868/मुं/2014 (िन.व. 2009-10) The Asstt. Director Of Income-Tax (International Taxation)-1(2) Mumbai, 1St Floor, Scindia House, Ballard Pier, Mumbai 400 038. ...... अपीलाथ"/Appellant बनाम Vs. Credit Agricole Corporate & Investment Bank (Formerly Calyon Bank), 11Th Floor, Hoechst House

For Appellant: Shri P.J. Pardiwala, Sr.Advocate gwithFor Respondent: Shri Soumendu Kumar Dash, Sr. AR &
Section 143(3)

…आयकर अपीलीय अिधकरण मुंबई पीठ “आई”,मुंबई "ी िवकास अव"थी, "याियक सद"य एवं "ी एस. "रफौररहमान, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER आअसं.9071/मुं/2010 (िन.व. 2006-07) आअसं.3103/मुं/2014 (िन.व. 2007-08) आअसं.1503/मुं/2014 (िन.व. 2008-09) आअसं.1504/मुं/2014 (िन.व. 2009-10) Credit Agricole Corporate And Investment Bank (formerly Calyon Bank), 11th Floor, Hoechst House, Nariman Point, Mumbai – 400 021 PAN: AACCC-3872-B ...... अपीलाथ"/Appellant बनाम Vs. The Asstt. Director of Income-tax (Inter…

Mufg Bank Ltd. (Earlier Known As the Bank of Tokyo Mitsubishi Ufg Ltd.), Delhi vs. ACIT, Circle-2(2)(1), Int. Taxation, Delhi

In the result, the appeal is partly allowed for statistical

ITA 1246/DEL/2022[2015-16]Status: DisposedITAT Delhi31 Jan 2023AY 2015-16

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2015-16

Section 144C(3)Section 234DSection 244ASection 254Section 271(1)(c)

…al that as per Article 11(2) of the tax treaty, the interest received on Income Tax refund is taxable at the rate of 10%. In this context, the assessee relied upon the decision of the Special Bench of the Tribunal in case of Clough Engineering Ltd. Vs. ACIT, 130 ITD 137 (Del.) (SB) and the decision of Hon’ble Bombay High Court in case of DIT Vs. Credit 3 | P a g e AY: 2015-16 Agricole Indosuez, 377 ITR 102. Agreeing with the submissions of the assessee, the Tribunal, while deciding the appeal in ITA No. 7895/Del/2019, dated 16.10.2020, restored the issue to the Assessing Officer to decide the rate of tax on in…

Aker Solutions India Sdn Bhd, Mumbai vs. Dy Commissioner of Income Tax (International Tax)- Circle-1(1)(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 1004/MUM/2022[2016-17]Status: DisposedITAT Mumbai07 Nov 2022AY 2016-17

Bench: Shri Pramod Kumar, Vice- & Shri Vikas Awasthyआअसं. 1004/मुं/2022("न.व .2016-17) Aker Solutions India Sdn Bhd Level 16 Integra Towers The Landmark 348, Jalan Tun Razak, Kaula Lumpur, Malaysia - 50400 Pan: Aaica-1114-G ...... अपीलाथ" /Appellant बनाम Vs. Dy. Commissioner Of Income Tax( International Taxation), Circle 1(1)(1), 5Th Floor, Air India Building, Nariman Point, Mumbai – 400 021. ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant By : S/Shri Hemen Chandariya & Anish Thacker ""तवाद" "वारा/Respondent By : Shri Soumendu Kumar सुनवाई क" "त"थ/ Date Of Hearing : 11/08/2022 घोषणा क" "त"थ/ Date Of Pronouncement : 07/11/2022 आदेश/ Order Per Vikas Awasthy, Jm: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-55, Mumbai [In Short ‘The Cit(A)’] Dated 16/03/2022 For The Assessment Year 2016-17. 2. The Assessee In Appeal Has Assailed The Order Of Cit(A) In Upholding The Assessment Order Taxing The Interest On Income Tax Refund As Business Income Under 2 Article-7 Of The India- Malaysia Double Taxation Avoidance Agreement (Dtaa) @40% + Surcharge @ 5% + Cess @ 3%.

For Appellant: S/Shri Hemen Chandariya and Anish ThackerFor Respondent: Shri Soumendu Kumar
Section 244A

…आयकर अपील"य अ"धकरण मुंबई पीठ “आई ” "ी "मोद कुमार, उपा"य" एवं "ी "वकास अव"थी, "या"यक सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ I”, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE-PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 1004/मुं/2022("न.व .2016-17) Aker Solutions India SDN BHD Level 16 Integra Towers The Landmark 348, Jalan Tun Razak, Kaula Lumpur, Malaysia - 50400 PAN: AAICA-1114-G ...... अपीलाथ" /Appellant बनाम Vs. Dy. Commissioner of Income Tax( International Taxation), Circle 1(1)(1), 5th Floor, Air India Building, Nariman Point, Mumbai – 400 021. ..... ""तवाद"/Respondent अपीलाथ"…

M/S. Standard Chartered Bank, Mumbai vs. The ACIT (It)1(3), Mumbai

In the result, appeal filed by the assessee is allowed and appeal filed by the Revenue is dismissed

ITA 803/MUM/2009[1999-2000]Status: DisposedITAT Mumbai27 Sept 2022AY 1999-2000

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blestandard Chartered Bank V. Acit – Range-1(3) Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Adit (It)– 2(3) V. Standard Chartered Bank Room No. 120, 1St Floor Taxation Department, 23-25 Scindia House, Ballard Estate M.G. Road, 3Rd Floor N.M. Marg, Mumbai - 400038 Fort, Mumbai - 400001 Pan: Aabcs4681D (Appellant) (Respondent) Shri P.J. Pardiwala & Assessee Represented By : Shri Fenil Bhatt Shri Soumendu Kumar Dash Department Represented By :

Section 115JSection 14ASection 90Section 90(2)

…assessee and prayed that the same may be adopted for the case of assessee also. (i). CIT vs. Hindustan Housing and Land Development Trust Ltd (161 ITR 524) (ii). DIT vs. Credit Agricole Indosuez - 377 ITR 102 (Bom-HC) (iii). ACIT vs. Clough Engineering Ltd. - 130 ITD 137 (Del-SB) (iv). Avada Trading vs. ACIT 284 ITR (A.T.) 73 (Mum) (v). Bechtel International Inc vs. ADIT - 135 ITD 377 (Mum). (vi). International Global Networks BV vs. DDIT-50 SOT 433 (Mum) MISC Berhad vs. ADIT - 150 ITD 213 (Mum) 24. Ld. DR relied on the orders of the lower authorities. 25. Considered the rival submissions and material placed on…

Sri Monaj Pati, Paschim Medinipur vs. A.C.I.T., Circle-38, Paschim Midnapore

In the result, the appeal of the assessee is allowed

ITA 2401/KOL/2019[2014-15]Status: DisposedITAT Kolkata15 Sept 2021AY 2014-15

Bench: Shri A.T Varkey & Shri Manish Boradआयकर अपील सं.य/ Assessment Year: 2014-15 बनाम Sri Manoj Pati Acit, Circle-38, Pan: Aespp2111H Midnapore, Nazarganj, V/S. C/O M/S. Salarpuria Paschim Midnapore- Jajodia & Co., 721101 7 Chittaranjan Avenue, Kolkata-700 072. अपीलाथ" /Appellant ""यथ" /Respondent ..

Section 1Section 143(2)Section 2(22)Section 2(22)(e)

…anced across the bar. " And answered the issue on the concept of beneficial owner vis­a­vis a registered owner. 9. We have gone through the case law cited by the assessee of co­ ordinate bench of this Tribunal in the case of ACIT vs. Harshad V. Doshi (2011) 130 ITD 137 (Chennai), wherein the Tribunal held that provisions of section 2(22)( e) of the Act did not apply to advances made by the company to the assessee, who was the Managing Director thereof and also holding substantial interest therein, to acquire land in his name for the purpose of development by the company so as 12. A.Y 2014-15 MANOJ PATI to redu…

Mufg Bank Ltd, New Delhi vs. ACIT (International Taxation) Circle-2(2)(1), New Delhi

In the result appeal of the assessee is partly allowed

ITA 7895/DEL/2019[2015-16]Status: DisposedITAT Delhi16 Oct 2020AY 2015-16

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Mufg Bank Ltd, Vs. Acit (International Taxation), 5Th Floor, Worldmark 2, Asset 8, Circle-2(2)(1), Aerocity, Nh-8, New Delhi New Delhi Pan: Aabct3880D (Appellant) (Respondent)

For Appellant: Shri Nishant Thakkar, AdvFor Respondent: Shr Surender Pal, CIT DR
Section 143(3)Section 14ASection 244ASection 37(1)Section 44C

…sue has been decided in favour of the assessee by the coordinate bench in assessee‟s own case for assessment year 2013 – 14 wherein following the decision of the order special bench in case of Assistant Commissioner Of Income Tax Versus Clough Engineering Ltd 130 ITD 137 and the Bombay High Court in case of DIT versus credit Agricole Indo Seuz 377 ITR 102. Therefore it was submitted that the interest received on income tax refund is taxable at the rate of 10% under article 11 (2) of the DTAA. 27. The learned departmental representative vehemently supported the order of the learned assessing officer and stated tha…

Deputy Commissioner of Income Tax (International Taxation) - 2(1)(1), Mumbai vs. Citibank Overseas Investment Corporation, Mumbai

In the result, appeal of the assessee is partly allowed as indicated above, the appeal of the revenue and cross objection of the assessee are dismissed

ITA 34/MUM/2018[2012-13]Status: DisposedITAT Mumbai10 Jan 2020AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Blecitibank Overseas Investment Corporation V. Dy. Cit (International Taxation) – 2(1)(1) C/O Deloitte Haskins & Sells Llp Room No. 1713, 17Th Floor 30 Floor, Tower 3 Air India Building India Bulls Finance Centre Nariman Point, Mumbai – 400 021 Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Pan: Aabcc5333N (Appellant) (Respondent) Dy. Cit (International Taxation) – 2(1)(1) V. Citibank Overseas Investment Room No. 1713, 17Th Floor Corporation Air India Building C/O Deloitte Haskins & Sells Llp 30 Floor, Tower 3 Nariman Point, Mumbai – 400 021 India Bulls Finance Centre Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Pan: Aabcc5333N (Appellant) (Respondent)

For Appellant: Shri P.J. Pardiwala &For Respondent: Shri Avaneesh Tiwari
Section 143(3)Section 234BSection 234CSection 244A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI MANOJ KUMAR AGGARWAL, HON'BLE ACCOUNTANT MEMBER Citibank Overseas Investment Corporation v. Dy. CIT (International Taxation) – 2(1)(1) C/o Deloitte Haskins & Sells LLP Room No. 1713, 17th Floor 30 Floor, Tower 3 Air India Building India Bulls Finance Centre Nariman Point, Mumbai – 400 021 Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 PAN: AABCC5333N (Appellant) (Respondent) Dy. CIT (International Taxation) – 2(1)(1) v. Citibank Overseas Investment Room No. 1713, 17th Floor Corpora…