2021 (9) TMI 913

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....l Chaturvedi, AM This appeal filed by the assessee is directed against the order of the Asstt. Commissioner of Income Tax, Circle-2(1)(1), (Intl. Taxn.) New Delhi under section 144C(5) of the Act pursuant to the directions of Dispute Resolution Panel (DRP) - I, New Delhi order dated 29.10.2020 for Assessment Year 2017-18. 2. The relevant facts as culled from the material on records are as under:....

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....ssessee is now in appeal before us and has raised the following grounds: 1. "That in the facts and circumstances of the case & in law, the order passed by the Ld. Assistant Commissioner of Income Tax ("AO") under Section 143(3) read with Section 144C(13) of the Income Tax Act 1961 ("the Act") assessing the income of the Appellant at Rs. 18,34,89,850/- instead of returned income of Rs. 10,67,32,8....

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.... principle of make available as per Article 13(4)(c) of the India UK DTAA and accordingly, erred in holding that the receipts of the Appellant satisfies the make available principle and is to be taxed as FTS under the provisions of India UK DTAA." 4. Before us, at the outset, Learned AR submitted that the issue involved in the present appeal is whether the balance receipts not attributable to per....