https://www.taxtmi.com/caselaws?id=458922 Reinsurance premium paid to non-resident reinsurers was treated as not taxable in India because the foreign reinsurers had no business operations, fixed place of business, branch, office or permanent establishment in India, and the premium was not regarded as received in India merely because the underlying risk related to Indian assets. Indian reinsurance brokers were held to be independent facilitators, not agents creating a business connection or agency permanent establishment. As the income was not chargeable to tax in India under the Income-tax Act and the relevant DTAA framework, no withholding obligation arose under section 195, and disallowance under section 40(a)(i) was therefore unsustainable. 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 Reinsurance premium paid to non-resident reinsurers was treated as not taxable in India because the foreign reinsurers had no business operations, fixed place of business, branch, office or permanent establishment in India, and the premium was not regarded as received in India merely because the underlying risk related to Indian assets. Indian reinsurance brokers were held to be independent facilitators, not agents creating a business connection or agency permanent establishment. As the income was not chargeable to tax in India under the Income-tax Act and the relevant DTAA framework, no withholding obligation arose under section 195, and disallowance under section 40(a)(i) was therefore unsustainable. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458922