TaxTMI 
TaxTMI 
TaxTMI 
2025 (9) TMI 97
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....025 u/s143(3) r.w. Section 144C(13) of the Income Tax Act, 1961 ('Act' for short). 2. The grounds of Appeal are as under:- "1. That on the facts and circumstances of the case and in law, the Ld. AO has erred in passing the assessment order dated January 20, 2025, beyond the prescribed limitation period under Section 153(1) of the Income-tax Act, 1961, rendering the order void ab initio. 2. That on the facts and circumstances of the case and in law, the Ld. AO erred in attributing 1.05% of the offshore sales, leading to an addition of Rs. 2, 14,94,417/-, to the alleged Permanent Establishment ("PE") of the Appellant in India without properly appreciating that there is no PE of the Appellant in India. On ....
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....on of PE in India. Further, no attribution can be made as the risk and title in respect of the offshore supply has passed outside the territory of India. On the issue of secondment 7. That on the facts and circumstances of the case and law, the Ld. AO has erred in holding that employees have been seconded to India, whereas no employees have been seconded to India during the subject year. On the inter-connection of offshore sales with technical know-how 8. That on the facts and circumstances of the case and in law, the Ld. AO has erred in holding that 'Purchase and Sale Agreement' and 'Royalty and Technical agreement' with Elentec India Private Limited are composite in nature whereas both a....
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.... engineering, manufacturing or an installation of the equipment for any supervision to even exist. 13. That on the facts and circumstances of the case and in law, the Ld. AO has erred in holding that supply of equipment cannot be segregated from the supply of technology and marketing of products whereas there has been no supply of equipment or marketing of any product. Grounds against levy of interest and initiation of penalty proceedings 14. That on the facts and circumstances of the case and in law, the AO has erred in charging interest under Section 234A, 234B and 234C of the Act. 15. That on the facts and circumstances of the case and in law, the AO erred in initiating penalty proceedings under Sectio....
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....sment order dated 31/03/2024, the Assessee filed its objection before the DRP and the Ld. DRP vide order dated 20/12/2024, upheld the findings of the A.O. made in the draft assessment order. Consequent to the order of the DRP, a final Assessment Order came to be passed on 20/01/2025u/s 143(3) r.w. Section 144C(13) of the Act, wherein the A.O. confirmed the addition of Rs. 2,14,94,417/- to the returned income of the Assessee. Aggrieved by the Final Assessment Order dated 20/01/2025, the Assessee preferred the present Appeal an appeal on the grounds mentioned above. 5. The Ld. Counsel for the Assessee has not pressed Ground No. 1, accordingly Ground No. 1 is hereby dismissed. 6. The Ld. Counsel for the Assessee addressing on the Ground ....
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....uals with EPI, confirming that they were employees of EPI. Thus, Ld. Assessee's Representative submitted that the authorities below committed error in making the impugned addition. 7. Per contra, the Ld. Departmental Representative relying on the orders of the Lower Authorities submitted that the Assessee Company is deemed to have PE in India as per Article 5(3) of India-Korea DTAA, therefore, relying on the findings of the Lower Authorities, sought for dismissal of the Appeal of the Assessee. 8. We have heard both the parties and perused the material available on record. 9. The only basis for making the impugned addition that the debit notes for reimbursement of travelling expenses submitted by the Assessee included details fo....