https://www.taxtmi.com/caselaws?id=458922 ITAT Chennai ruled in favor of the assessee regarding TDS on reinsurance premiums paid to non-resident reinsurance companies. The court held that foreign reinsurers had no permanent establishment (PE) in India, neither fixed place nor agency PE, as reinsurance brokers acted independently. Since the payments were not chargeable to tax in India under the Income Tax Act or relevant DTAAs, no TDS obligation arose under section 195. Consequently, the disallowance under section 40(a)(i) was unwarranted and ordered to be deleted. en-us Fri, 26 Aug 2022 00:00:00 +0530 Thu, 21 Nov 2024 19:30:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458922 ITAT Chennai ruled in favor of the assessee regarding TDS on reinsurance premiums paid to non-resident reinsurance companies. The court held that foreign reinsurers had no permanent establishment (PE) in India, neither fixed place nor agency PE, as reinsurance brokers acted independently. Since the payments were not chargeable to tax in India under the Income Tax Act or relevant DTAAs, no TDS obligation arose under section 195. Consequently, the disallowance under section 40(a)(i) was unwarranted and ordered to be deleted. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458922