2018 (1) TMI 1637

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.... of this common order for the sake of convenience and brevity. ITA No. 1351/Mum/2016 AY 2011-12 2. The revenue has raised the following grounds of appeal against direction given by Dispute Resolution Panel-2, Mumbai, Objection No.248 dated 18/12/2015: - 1. "Whether on the facts and in the circumstances of the case and in law, the Hon'ble DRP has erred in holding that the assessee company does not have any PE in India within the meaning of Article 5(1), 5(2) and 5(3) and Article 5(5)?" The DRP failed to appreciate that M/s.Swiss Reservices India Pvt.Ltd. (SRSIPL) was performing core functions, which were inextricably intertwined to assessee's reinsurance business and were not preparatory or auxiliary in nature. 2. "Wh....

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....sesse has regular flow of income emanating from India?" 5. The appellant prays that the order of the DRP be set aside on the above grounds and the draft order of the Assessing Officer restored. 3.1 Facts in brief are that the assessee being non-resident corporate assessee was assessed at Rs.'Nil' u/s 143(3) read with Section Sec.144C(13) of the Income Tax Act,1961 on 22/01/2016 pursuant to the directions of Dispute Resolution Panel-2 [DRP] dated 18/12/2015. The revenue is aggrieved by certain directions given by DRP pursuant to which final assessment order has been passed. 3.2 During proceedings, it was noted that the assessee company, being a company incorporated in Switzerland, was engaged in the business of providing re-in....

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....y the order of this Tribunal for AY 2010-11 as well for AY 2013-14. The copies of the relevant orders have been placed before us. The Ld. Departmental Representative [DR], while fairly conceding the same, contended that the orders of the earlier years have been challenged by the revenue before Hon'ble Bombay High Court and the same are sub-judice. 5. We have carefully heard the rival contentions and perused cited order of the Tribunal. We find that, the matter, at present, stood covered in assessee's favor by the order of this Tribunal for AY 2010-11 ITA No. 1667/Mum/2014 dated 13/02/2015 which has been followed while deciding the matter for AY 2013-14 ITA No. 2759/Mum/2017 dated 04/07/2017. The relevant findings of the Tribunal as given....