Interest Received by Indian PE over Deposit in Head Office/Overseas Branch is Not Taxable in India: Delhi HC dismisses Income Tax Dept’s Appeal [Read Order]
The court held that it is wholly unreal and artificial to separate the business from its owner and treat them as if they were separate entities trading with each other, and then, by means of a fictional sale, introduce a fictional profit, which in truth and in fact is non-existent.
The Delhi High Court in a recent case, held that interest received by an Indian permanent establishment ( PE ) over deposit in the head office/overseas branch is not taxable in India and dismissed the income tax department’s appeal. The Commissioner of Income Tax challenged the order of the Income Tax Appellate Tribunal which was…
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