Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The ITAT held that the assessee, engaged in reinsurance, does not constitute a permanent establishment (PE) in India under the modified Article 5 of the MLI between India and Ireland. Despite the revenue's contention that the assessee and a related enterprise carried out complementary functions amounting to a cohesive business operation in India, the tribunal found no business activities or presence in India, including no premises or acceptance of risk within India. Consequently, the anti-fragmentation rule under the MLI, designed to prevent abuse of preparatory or auxiliary activity exemptions, was inapplicable. The tribunal concluded that the assessee's income was not taxable in India due to the absence of a PE, ruling in favor of the assessee.
The ITAT held that the assessee, engaged in reinsurance, does not constitute a permanent establishment (PE) in India under the modified Article 5 of the MLI between India and Ireland. Despite the revenue's contention that the assessee and a related enterprise carried out complementary functions amounting to a cohesive business operation in India, the tribunal found no business activities or presence in India, including no premises or acceptance of risk within India. Consequently, the anti-fragmentation rule under the MLI, designed to prevent abuse of preparatory or auxiliary activity exemptions, was inapplicable. The tribunal concluded that the assessee's income was not taxable in India due to the absence of a PE, ruling in favor of the assessee.
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