The ITAT held that Compensation paid for contractual default and Rebate given for quality issues is business profits and same is not taxable in India if recipient does not have PE in India FACTS The assessee was an Indian company engaged in trading of certain products. The assessee procured the products from suppliers in India […]
ULO SYSTEMS LLC V DCIT (2019) 105 TAXMANN.COM 259 (DELHI TRIBUNAL); TS-164-ITAT-2019(DEL)
Equipment was placed and personnel were stationed on the vessel of the main contractor for carrying out grouting work. The ITAT held that the vessel was a fixed place of business through which the assessee carried on business Facts: The Assessee is a company incorporated in UAE. The Assessee is carrying on grouting services in […]
SC DECISION IN THE CASE OF DIT V SAMSUNG HEAVY INDUSTRIES CO LTD 117 TAXMANN.COM 870 (SC) – ANALYSIS AND LEARNINGS
Background This decision ((2020) 7 SCC 347) of the Honourable Supreme Court deals with the question as to the taxability of income attributable to a “permanent establishment” set up in a fixed place in India under the India – Republic of Korea (“DTAA”). On 28.02.2006, the Oil and Natural Gas Company (“ONGC”) awarded a “turnkey” […]