Held that when the assessee has furnished evidence to show that the global profit rate in the paper division is 3 per cent the estimation of profit at 5% by the CIT(A) cannot be accepted. Issue is restored to the AO for de novo adjudication. (AY. 2015-16)
J.M. Voith Se & Co. Kg v. DCIT (IT) (2024) 230 TTJ 837 / 241 DTR 137 / 38 NYPTTJ 521 / 161 taxmann.com 734 /(2025) 121 ITR 402 (Delhi)(Trib)
S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Income from offshore supply of plants, equipments, spares, etc.-Assessee has furnished evidence to show that the global profit rate in the paper division is 3 per cent the estimation of profit at 5% by the CIT(A) cannot be accepted-Issue is restored to the AO for de novo adjudication-DTAA-India-Germany.[Art. 5]
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