2021 (6) TMI 1158 - HC - Income Tax

Withholding rate of tax in respect of dividend - India-Swiss DTAA - HELD THAT - Revenue, cannot but accept that the issue raised in the present petition is covered by the judgement of this Court in Concentrix Services Netherlands B V v/s. Income Tax Officer TDS Anr. 2021 (4) TMI 1051 - DELHI HIGH COURT Accordingly, impugned orders are set aside. Writ petition is disposed of in the aforesaid terms. A certificate under Section 197 of the Income Tax Act, 1961 will be issued in favour of the petitioner, indicating therein, that the rate of tax, on dividend, as applicable qua the petitioner is 5% under India-Swiss DTAA.

Summary

The High Court of Delhi set aside impugned orders dated 04.01.2021 and 11.03.2021 in response to a petition covered by a previous judgment. A certificate under Section 197 of the Income Tax Act, 1961 will be issued in favor of the petitioner, confirming a 5% tax rate on dividends under India-Swiss DTAA.