REFINITIV US LLC vs THE INCOME TAX OFFICER CIRCLE INT. TAX 1(3)(1) NEW DELHI

Judgment text excerpt

$~72 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision : 17.02.2026 + W.P.(C) 17674/2025 & CM APPL. 73006/2025 REFINITIV US LLC .....Petitioner Through: Mr. Ajay Vohra, Sr. Adv. with Dr. Shashwat Bajpai and Mr. Mayank Chaturvedi, Advs. versus THE INCOME TAX OFFICER CIRCLE INT. TAX 1(3)(1) NEW DELHI .....Respondent Through: Mr. Sunil Agarwal, SSC, Ms. Monica Benjamin and Mr. Gibran Naushad, JSCs and Mr. Rohit Chakraborty, Adv. CORAM: HON'BLE MR. JUSTICE DINESH MEHTA HON'BLE MR. JUSTICE VINOD KUMAR JUDGMENT DINESH MEHTA, J. (ORAL) 1. By way of the present writ petition, the petitioner has challenged the impugned order dated 22.07.2025 and corresponding certificate dated 11.07.2025 issued to the petitioner under Section 197 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act of 1961’) subject to withholding tax at rate of 15%. W.P.(C) 17674/2025 Page 1 of 6 Signature Not Verified Signed By:PRAMOD KUMAR VATS Signing Date:20.02.2026 15:38:12 2. As pleaded, the petitioner is a non-resident company incorporated under the laws of United States of America. The petitioner provides a wide range of products including foreign exchange related Matching solutions, real-time financial data, etc. The petitioner also provides a number of support services to its group companies. 3. A brief summary of the above products and offerings of the company are given below: a) Matching solutions: The company provides global market electronic solution for trading foreign exchange spot & forward swap contracts. b) Support services: Along with Matching solutions as discussed in the above para, the company also provides services related to maintenance and enhancements to the solutions. 4. For providing the above products and offerings in India, the petitioner has entered into a