Permanent establishment in India not found; attributable business profits not taxable, and pending SLP did not justify the appeal.

The Bombay High Court followed its earlier binding decision that the assessee was not a permanent establishment of the foreign group in India, and therefore no business profits were attributable to tax in India. The Court held that the mere pendency of a special leave petition against the earlier ruling was no ground to entertain the Revenue's appeal. The finding that there was no permanent establishment and no taxable attributable profits was upheld, and the appeal was dismissed.

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Issues: Whether the assessee was a permanent establishment of the foreign group in India and whether the business profits attributable to such establishment were taxable in India.

Analysis: The issue was decided by following the earlier binding decision of the same Court holding that the assessee was not a permanent establishment. The pendency of the special leave petition against that earlier decision was held to be no ground to entertain the revenue's appeal.

Conclusion: The finding that the assessee was not a permanent establishment and that no attributable business profits were taxable in India was upheld, and the appeal was dismissed.

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