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2024 (3) TMI 307 - AT - Income TaxTaxability of receipts from offshore supply of equipments - offshore supply made to Indian PSU’s which the assessee had claimed to be not chargeable to tax under Indian Taxation - Assessee company is tax resident of China - DRP bifurcated the said receipt into business income and Fee for technical services – FTS (in ratio of 60%:40%) taxable in India - HELD THAT:- In the light of view taken by the Co-ordinate Bench [2023 (12) TMI 540 - ITAT DELHI] the receipt from offshore supply of goods cannot be regarded as taxable in India. Also, the bifurcation of receipts between business income and FTS is not permissible in the light of view taken in earlier years as expressed above. In sync with view taken in the earlier years as noted above, the Assessing Officer is directed to delete the addition in question. Appeal of the assessee is allowed.
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