SC: No TDS on Reinsurance Payments as Brokers Not PE; MAT Not Applicable to Insurance Companies

PCIT-4 Vs Cholamandalam MS General Insurance Company Ltd. (Supreme Court of India) In PCIT-4 Vs Cholamandalam MS General Insurance Company Ltd., the Supreme Court of India dismissed the Special Leave Petitions filed by the Revenue and declined to interfere with the judgment of the Madras High Court. By doing so, the Supreme Court upheld the High Court’s decision in full. The High Court judgment arose from 16 appeals filed by the Revenue for Assessment Years 2005–06 to 2014–15, challenging the order of the Income Tax Appellate Tribunal dated 26.08.2022. Multiple substantial questions of l...