Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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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