https://www.taxtmi.com/caselaws?id=437179 The ITAT upheld the CIT(A)'s decision to delete the disallowance of Rs. 16,94,51,775/- for non-deduction of TDS under section 40(a)(i) of the Income Tax Act 1961. The dispute arose from attributing profits of Mitsui Japan to its Indian PE, Mitsui India, for TDS purposes. However, the ITAT ruled in favor of Mitsui & Co. Ltd. Japan, stating that Mitsui India did not qualify as a dependent agent PE under the India-Japan DTAA. Consequently, the disallowance was deemed unjustified, and the Revenue's appeal was dismissed. en-us Thu, 02 Mar 2023 00:00:00 +0530 Fri, 28 Apr 2023 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437179 The ITAT upheld the CIT(A)'s decision to delete the disallowance of Rs. 16,94,51,775/- for non-deduction of TDS under section 40(a)(i) of the Income Tax Act 1961. The dispute arose from attributing profits of Mitsui Japan to its Indian PE, Mitsui India, for TDS purposes. However, the ITAT ruled in favor of Mitsui & Co. Ltd. Japan, stating that Mitsui India did not qualify as a dependent agent PE under the India-Japan DTAA. Consequently, the disallowance was deemed unjustified, and the Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 02 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437179