https://www.taxtmi.com/caselaws?id=459528 ITAT Delhi held that no business profits were attributable to the alleged PE of the assessee in India. The Tribunal found that the Indian entity performed no additional functions creating a PE, thus requiring NIL remuneration. Since the associated enterprise was already remunerated at arm's length, no further profit attribution was necessary. The decision relied on SC precedent in Morgan Stanley and Delhi HC ruling in Adobe Systems, which established that where dependent agents are properly remunerated at arm's length, no additional profits can be attributed to the non-resident's alleged PE. Appeal decided in favor of assessee. en-us Thu, 21 Mar 2024 00:00:00 +0530 Tue, 17 Dec 2024 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459528 ITAT Delhi held that no business profits were attributable to the alleged PE of the assessee in India. The Tribunal found that the Indian entity performed no additional functions creating a PE, thus requiring NIL remuneration. Since the associated enterprise was already remunerated at arm's length, no further profit attribution was necessary. The decision relied on SC precedent in Morgan Stanley and Delhi HC ruling in Adobe Systems, which established that where dependent agents are properly remunerated at arm's length, no additional profits can be attributed to the non-resident's alleged PE. Appeal decided in favor of assessee. Case-Laws Income Tax Thu, 21 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459528