Interest on tax refund not covered by definition of interest under India-Italy DTAA and liable to TDS at 40%
INTEREST ON TAX REFUND NOT COVERED BY DEFINITION OF INTEREST UNDER INDIA-ITALY DTAA AND LIABLE TO TDS AT 40% Ansaldo Energia SPA v. DDIT [ITAT Chennai], ITA No. 1496 to 1498 of 2014, dated: July 17, 2015 Facts of the case The assessee, an Italy based company, was engaged in the business of designing, building and supplying …