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2017 (11) TMI 1642 - AT - Income TaxIncome chargeable to tax in India - existence of PE in India - Held that:- The assessee is accepted that no further income chargeable to tax in India can be said to be attributable to the assessee for the reason that the transaction between the assessee and its AE has been found at arms length price in the present case on the issue of agent for space selling, there is no requirement for dealing with the issue of, whether there is PE or not and no addition on this count can be made in the case of assessee. We find that the alternative contention made by the assessee that once no income chargeable to tax in India is attributable to the assessee for the reason that the transaction between the assessee and its AE has been found at arms length price, no further income chargeable to tax in India can be said to be attributable on account of PE. Accordingly, this issue is squarely covered in favour of assessee by the decision of Hon’ble Supreme Court in the case of E-Funds IT Solution Inc. (2017 (10) TMI 1011 - SUPREME COURT OF INDIA) and also co-ordinate Bench decision in the case of Taj TV Ltd. (2016 (12) TMI 1291 - ITAT MUMBAI). Respectfully following the same we allow the appeal of the assessee.
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