Double taxation relief - The CBDT Circular No. 789 dt. 13th April, 2000 is specifically in the context of incomes by way of dividend and capital gain on sale of shares. So, it would equally apply even in the situation where the application of the provisions of the India-Mauritius Tax Treaty is sought to be applied for considering the taxability of interest income as per Art. 11(3)(c) of the India-Mauritius Tax Treaty. The issue before the Hon'ble High Court in case of Universal International Music B.V was relating to the taxability of Royalty income in the context of India-Netherlands Double Taxation Avoidance Agreement. In the said decision also, CBDT Circular No. 789 dt. 13th April, 2000 was held applicable in the context of Royalty income. Even in the context of the impugned interest income, Circular No. 789 dt. 13th April, 2000 of the CBDT is applicable while applying the provisions of Art. 11(3)(c) of the India-Mauritius Tax Treaty. On this aspect itself, the assessee is the ‘beneficial owner’ of the impugned interest income on the strength of the Tax Residency Certificate issued by the Mauritian authorities. Thus, appeal of the revenue dismissed. - DEPUTY CIT V/s HSBC BANK (MAURITIUS) LTD - [2020] 185 ITD 452 (ITAT-MUMBAI)