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2022 (4) TMI 34 - ITAT DELHIAddition u/s 68 towards trade creditor outstanding for payment as on 31.03.2012 as per balance sheet of the Assessee company - Commissioner deleted the addition in hand - HELD THAT:- We have given our thoughtful consideration to the above factual position and determination made by the Ld. Commissioner. Before us the aforesaid facts remained un-controverted and even otherwise we do not find any material and/or any plausible reason to take a contrary view against the conclusion drawn by the ld. Commissioner. Consequently, ground no. 1 stands dismissed. TDS u/s 195 - Non-deduction of TDS qua payments of marketing expenses - HELD THAT:- Commissioner while considering the aforesaid claim of the Assessee and analyzing the provisions of section 9 & 195 of the Act, held that the DTAA between India and Ireland provides that the profits of the foreign enterprise shall be taxable only if it had carried on business in India through a permanent establishment (“PE”) situated therein. The Ld. Commissioner also observed that FII has certified that it has no permanent establishment (“PE”) in India and is a resident of Ireland for taxation purposes. Commissioner finally concluded that there was no liability of tax on payments made for advertising services to FII. Before us the aforesaid facts remained uncontroverted and even otherwise we do not find any material and/or any reason to take a contrary view against the conclusion drawn by the ld. Commissioner. Consequently, ground no. 2 also stands dismissed.
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