ITA No.3762/Del/2023

Parties Involved

Facts Summary

The appeal is preferred by the Revenue against the order dated 30.10.2023 of the Commissioner of Income Tax (Appeals)-43, New Delhi in Appeal No.NFAC/2013-14/10209080 arising out of the appeal before it against the order dated 07.11.2022 passed u/s 201(1)/201(1A) of the Income Tax Act, 1961 by ITO, International Taxation, Ward 3(1)(1), New Delhi. The issue involved in the appeal is if the CIT(A) was not justified to delete the addition made by AO where in AO had considered the interest payment made to China Development Bank (CDB) to be not exempt from taxation under Article 11(3) of India China DTAA. The ld. AR submitted that the issue is no more res integra and the order dated 21/08/2024, of the Coordinate Bench in which one of us, i.e., Ld. Accountant Member was on the Bench, in ITA No.1393/Del/2023 for AY 2016-17 in assessee’s own case has been relied.…

Legal Issues

• 1. Whether the CIT(A) was justified to delete the addition made by AO where in AO had considered the interest payment made to China Development Bank (CDB) to be not exempt from taxation under Article 11(3) of India China DTAA.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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