The Mumbai Income Tax Appellate Tribunal (ITAT) issued an order on 28 March 2023 concerning the appropriate tax rate on interest income of a Dutch bank with a permanent establishment (branch) in India. The assessee, Rabobank Netherlands, derived interest income in assessment year 2012-13, for which it was argued that the 10% withholding tax rate under Article 11 (Interest) of the 1988 India-Ne…