Monday, 26 October 2015

ITAT refused to invoke LOB clause of India-UAE treaty as shipping Co. wasn’t a conduit Co. in UAE

IT/ILT : Shipping company in UAE could not be said to have been created for the purpose of availing India-UAE tax treaty benefits on the ground that such company was owned by shareholders in Switzerland when treaty protection in respect of income of such a nature was anyway available under India-Swiss tax treaty

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