Foramer S.A v. DCIT

52 ITD 115Income Tax Appellate Tribunal1995#25192 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2023 to 2025.

Sections most often in play

Section 90(2)Section 11(2)Section 11(2)(a)Section 115A(1)(a)(iiaa)Section 13(3)Section 13(4)Section 143(3)Section 144C(13)

Issues it is cited on

section 90(2)tax treaty section 90 double taxation company india total income interest

Judgments citing Foramer S.A v. DCIT

Abu Dhabi Commercial Bank Pjsc, Mumbai vs. DCIT (International Taxation)-1(1)(1), Mumbai

In the result, the appeal is partly allowed

ITA 3404/MUM/2023[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey, Vp & Ms. Padmavathy S, Am Abu Dhabi Commercial Bank Pjsc Dcit (International Taxation)- Wework India Management Private 1(1)(1) 5Th Floor, Room No. 517, Limited Vs. 2Nd Floor, Express Towers, Air India Building, Nariman Point, Ranath Goenka Marg, Nariman Point, Mumbai-400 021 Mumbai-400 021 Pan/Gir No. Aaaca 4216 B (Appellant) : (Respondent)

For Appellant: Shri Dhanesh Bafna, Adv. a/wFor Respondent: Shri Asif Karmali

Section 143(3)

…fore, there is no bar on the assessee in going back to the Domestic Law, even if it has chosen to be governed by the treaty provisions. In support of such contention, he relied upon a decision of the co- ordinate bench in case of Foramer S.A. vs. DCIT [1995] 52 ITD 115 (Del). 7. Without prejudice, ld. Counsel submitted, even assuming that the assessee cannot adopt the hybrid approach as alleged by the Departmental Authorities, the interest income is covered under the Domestic Law. As per section 115A(1)(a)(iiaa) r.w.s. 194LC of the Act, the interest income is subject to concessional tax rate of 5% with applic…

Tvf Fund Ltd., Mauritius, Mumbai vs. DCIT (International Taxation)-4(1)(2), Mumbai

In the result the appeal filed by the assessee stands partly allowed

ITA 4632/MUM/2023[2021-22]Status: DisposedITAT Mumbai23 Jan 2025AY 2021-22

Bench: Smt. Beena Pillai () & Ms. Padmavathy S ()

Section 153Section 74Section 90(2)

…f the assessee rejected the claim availed under the DTAA in respect of the gains 8 A.Y.2021-22 earned, which is the beneficial provision. The Ld. AO placed reliance on the decision of Hon’ble Delhi Tribunal in case of Foramer S.A. Vs. DCIT reported in (1995) 52 ITD 115 held that, since methodology of computing capital gains is not provided in the treaty, the same is to be decided as per the provisions of the Act and provisions of the treaty are to be applied to the extent they are beneficiary to the assessee. He also placed reliance on the decision of Hon’ble Calcutta High Court in case of CIT vs. Davy Ashmore I…

Indium IV (Mauritius) Holdings Limited, Mumbai vs. Deputy Comm. of Income Tax (International Taxation) 2(2)(1), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 2423/MUM/2022[2017-18]Status: DisposedITAT Mumbai06 Oct 2023AY 2017-18

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleindium Iv (Mauritius) Holdings Limited V. Dcit (International Transaction)-2(2)(1) Office 201, 2Nd Floor, Sterling Tower Room No. 1722, 17Th Floor Air India Building, Nariman Point 14 Poudriere Street, Port Louis Mumbai – 400 021 Mauritius Pan: Aacci4907P (Appellant) (Respondent)

Section 143(2)Section 144C(5)Section 2(24)Section 45Section 92C

…and after the cut off. This was not an issue of selective interpretation of treaty and domestic law. Hence, it has no applicability in the facts of the present case. Page No. | 7 Indium IV (Mauritius) Holdings Limited 5.10 In the case of Foramer S.A. [1995] 52 ITD 115 (Delhi), the issue was of determining the profit of PE as per treaty and the dispute was as to how claim for depreciation was to be computed. Assessee wanted it to be computed as per applicable IT Depreciation rate. The Treaty does not specify and rate. The Treaty also mentions where any term is not defined the same can be as per the Domestic Tax…