The India Income Tax Appellate Tribunal (ITAT) delivered a ruling dated 25 November 2005 (reported in April 2006) in the case of Chohung Bank v. Deputy Director of Income Tax (International Tax) (6 SOT 144) on whether a South Korean bank is entitled to the benefit of the non-discrimination article under the India-Korea (Rep.) tax treaty (the tax treaty).
(a) Facts. The taxpayer (i.e. Chohung Bank) was a banking company based in South Korea and had a branch in India, which was invo…