Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 1348 - ITAT MUMBAITaxability / nature of borrowed service charges - FTS or business income - applicability of treaty benefits under India-US Tax Treaty - PE in India - Held that:- It is admitted fact that the assessee has merely supplied data, information etc. to its India counterpart and has not made any technology available which can be used by Mckinsey India. The assessee is providing these services on regular basis for the past several years and the same are held to be business receipts not taxable as per treaty provisions in assessee’s own case for different assessment years We allow the appeal of the assessee. The impugned payments do not constitute FTS in the hands of the assessee and fall within the ambit ‘Business Profits’ and since assessee do not have any PE in India, the same are not taxable as per statutory provisions / Treaty.
|