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Showing contexts for: article 72 in Dy Cit 11 (3)(1), Mumbai vs Total Oil India Pvt Ltd., Mumbai on 20 April, 2023Matching Fragments
6. The Tribunal thereafter examined the relevant DTAA, especially the clauses relating to Dividends, and concluded that DTAA will prevail over the Act in view of Sec.90(2) of the Act. The Tribunal finally concluded as follows:
"71. In light of the aforesaid decision, we are of the considered view that tax rates specified in DTAA in respect of dividend must prevail over DDT.
72. Article 10.4 above specifies that clause 1 and 2 will not be applicable if beneficial owner of dividend carries on business in other contracting state of which the company paying dividend is a resident through PE situated therein. Though supporting documents have been filed before us, but these documents need verification from primary officer, that is, the Assessing Officer. We, therefore, deem it fit to restore this issue for limited purpose of verification in the light of the aforesaid Articles of DTAA.