National Stock Exchange Of India Ltd. vs Deputy Director Of Income Tax (International Taxation)

Authority: ITAT Tribunal/Court: Mumbai Date: 2017-05-18 Section: 9(1)(vi), 90, 195, 90, 195 Acts: Income Tax Act 1961, Double Taxation Avoidance Agreement between India and USA Result: Assessee Citation: Source (2017) 187 TTJ (Mumbai) 430 (2017) 154 DTR_Trib (Mumbai)(Trib) 118 Justices: Member(s) Shamim YahyaA.M. & Ravish SoodJ.M. Appeal No: ITA No. 7735/Mum/2011
Whether payment made by National Stock Exchange of India Ltd. to Monishab Inc., USA for acquisition of computer software constitutes 'royalty' under section 9(1)(vi) of the Income Tax Act, 1961 and Article 12(3) of India-USA DTAA, thereby requiring deduction of tax at source under section 195? --- Held No.

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