2020 (8) TMI 476

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....the applicant/petitioner does not wish to press the present application at this stage. Consequently, the present application stands disposed of. C.M.No.17940/2020 The matter has been heard by way of video conferencing. Present application has been filed by the petitioner seeking stay of payment of equalization levy under Section 165 A read with Section 166 A of the Finance Act, 2016 as amended by Finance Act, 2020 during the pendency of the present writ petition. In the present case, the Authority of Advance Ruling has held in the impugned ruling dated 6th June, 2018, that the applicant has multiple permanent establishments in India and consequently, the sum received by the applicant from its customer banks located in India i....

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.... their Indian PE. The existence of PE and the consequent taxation of income reasonably attributable to the PE, is a position that neither the Respondent nos. 2 and 3 nor the Applicant can resile from. It arises from the binding effect of the order of the Authority for Advance Rulings (AAR) u/s 245S of the IT Act. 8. In conformity with the above legal position, the answering Respondent herein has no desire or authority of collecting the EL from the Applicant in respect of the income on which income tax has been paid by the Applicant either as advance tax or as TDS made by its customer banks in India during the pendency of this writ petition. xxx xxx xxx 11. During the course of the hearing on 06/08/2020, it was sub....