Relief to Spicejet: Payment for Leasing/Hiring Equipment Not Royalty as per India-Netherlands DTAA, rules ITAT [Read Order]

Spicejet - Payment - Hiring - Hiring Equipment - Royalty - DTAA - ITAT - Income Tax - Tax - taxscan

Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Spicejet. The tribunal upheld the decision of CIT(A) on instructing the Assessing Officer (AO) to verify whether the amount comes under royalty and if not deletes the addition. The bench stated that payment for leasing or hiring equipment is not a royalty…

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