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2021 (5) TMI 857 - AT - Income TaxIncome taxable in India - Income accrued or deemed to accrues/arise in India - taxability under the DAPE - Permanent Establishment (PE) - 'Royalties' on substantive basis - Addition both under the Income-tax Act, 1961 as well as the Double Taxation Avoidance Agreement entered into between India and USA - computing the taxable income of alleged DAPE - HELD THAT:- The issue in appeal is covered in favour of the assessee by a co-ordinate bench decision in the case of ADIT vs Asia Today Ltd [2021 (2) TMI 95 - ITAT MUMBAI] inasmuch as the very basis of taxability in the impugned appeal is existence of the dependent agency permanent establishment [DAPE, in short] but then, as held in the case of Asia Today (supra), the existence of a DAPE is wholly tax neutral As no reasons to take any other view of the matter than the view so taken by the co-ordinate bench. In this view of the matter, and having regard to the undisputed position vide TPO’s order that the transactions in question were at arm’s length price, no taxability survives in the hands of the assessee. Once basic taxability under the DAPE itself comes to an end, all other issues raised in the appeal are rendered academic and infructuous
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