Independent Agent Earning 77.60% Revenue from Other Parties Cannot Be Considered Dependent Agent PE Under Tax Law

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....ITAT confirmed that FCIPL does not constitute a dependent agent PE of the foreign assessee in India. The Tribunal found that FCIPL merely acted as an agent for booking cargo per the assessee's fixed tariff without authority to conclude contracts. FCIPL maintained functional independence, with the assessee having no liability for FCIPL's expenses or obligations. Significantly, FCIPL conducted business for multiple enterprises, deriving only 22.32% of its revenue from the assessee while 77.60% came from other independent parties. The Tribunal determined FCIPL operated as an independent agent rather than a representative of the assessee, thereby dismissing Revenue's appeal and upholding the CIT(A)'s order.....