2012 (9) TMI 443

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....f 2010 & Rev. Pet. No.660 of 2011 in ITA No.1284 of 2010 - -<br>Income Tax<br>MR. JUSTICE M.L. MEHTA, J. For Appellant : Mr. Mukesh Butani, Advocate with Mr. H. Raghvendra Rao and Mr. Arijit Prasad, Advocates. &nbsp; For Respondent: Mr. Sanjeev Sabharwal, Sr. Standing Counsel. &nbsp; A.K. SIKRI, Acting Chief Justice (ORAL) 1. Many appeals, both filed by the assessee as well the Reven....

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....elate to Permanent Establishment viz. whether ANR as its agent could be treated as Permanent Establishment. It was submitted by Mr. S. Ganesh, learned Sr. Counsel appearing for the appellant/review petitioner that in para 35 of the judgment, his submission is recorded that the issue of Arm's Length Price be decided first and in case it is held that the payment of commission to ANR was an Arm's Len....

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....t has held that payment of US$ 40,000 per annum made by the review petitioner to ANR is not to be treated as arm's length price, the next step is to determine as to what would be the reasonable arm's length price at the hands of ANR/PE and not the profits earned by the assessee. He submitted that this aspect is over looked. 2. After going through the judgment in the light of the submissions, we....