https://www.taxtmi.com/caselaws?id=259807 Article 8 of the India-USA tax treaty applies only to profits from operation of aircraft in international traffic by the owner, lessee or charterer, and code sharing or booking seats on third-party aircraft did not qualify because the assessee neither operated nor chartered those aircraft, nor established a true pool arrangement. The receipts were therefore held ineligible for treaty exemption. On profit attribution, the global profitability rate required factual verification because only expenses attributable to the Indian permanent establishment could be considered, so the matter was remanded. Interest under section 234B also required fresh examination, with a direction not to levy it if the income was subject to tax deduction at source. en-us Wed, 29 Apr 2015 00:00:00 +0530 Thu, 25 Sep 2025 17:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259807 Article 8 of the India-USA tax treaty applies only to profits from operation of aircraft in international traffic by the owner, lessee or charterer, and code sharing or booking seats on third-party aircraft did not qualify because the assessee neither operated nor chartered those aircraft, nor established a true pool arrangement. The receipts were therefore held ineligible for treaty exemption. On profit attribution, the global profitability rate required factual verification because only expenses attributable to the Indian permanent establishment could be considered, so the matter was remanded. Interest under section 234B also required fresh examination, with a direction not to levy it if the income was subject to tax deduction at source. Case-Laws Income Tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259807