Where assessee, a Mauritius based company, was carrying on bona fide banking business in Mauritius, interest earned by it in India on securities, being beneficially owned by it, was exempt under article 11(3)(c) of Indo-Mauritius DTAA – Commissioner of Income-tax, (IT)-2 v. HSBC Bank (Mauritius) Ltd. – [2024] 159 taxmann.com 180 (Bombay)