Assessee, US company, entered into Master Franchise Agreement (MFA) with Indian company (Jubilant) for franchise of Dominos Pizza Store and provided certain store/consultancy services to Jubilant and assessee was entitled to charge 3 per cent of sales of store of Jubilant and further 3 per cent on sale of their sub-franchise store. The AO held  that, assessee had exclusive franchise right in India and Jubilant did not have economic independence and its modus operandi was not on principal to principal basis and, therefore, Jubilant was dependent agent  Permanent Establishment .Tribunal held that profit and loss from business belonged to Jubilant and no activities were carried out by Jubilant on behalf of assesse, therefore, Jubilant did not constitute a Permanent Establishment of assessee in India. (AY .2012-2013)