https://www.taxtmi.com/highlights?id=74977 Income taxable in India or not - FTS/FIS - payments received by the assessee from its Indian customers on account of Centralized Services - absence of PE in India - The Tribunal upheld CIT(A)'s decision, emphasizing the payments received for Centralized Services are not to be classified as FTS/FIS under the Act or India-USA DTAA, aligning with precedent judgments. It was highlighted that such income constitutes business profits, not taxable in India in the absence of a Permanent Establishment (PE) of the assessee, as per the DTAA. en-us Sat, 17 Feb 2024 06:50:19 +0530 Sat, 17 Feb 2024 06:50:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74977 Income taxable in India or not - FTS/FIS - payments received by the assessee from its Indian customers on account of Centralized Services - absence of PE in India - The Tribunal upheld CIT(A)'s decision, emphasizing the payments received for Centralized Services are not to be classified as FTS/FIS under the Act or India-USA DTAA, aligning with precedent judgments. It was highlighted that such income constitutes business profits, not taxable in India in the absence of a Permanent Establishment (PE) of the assessee, as per the DTAA. Highlights Income Tax Sat, 17 Feb 2024 06:50:19 +0530 https://www.taxtmi.com/highlights?id=74977