Mitsui India is not a Dependent Agent Permanent Establishment of Mitsui, Japan

ACIT Vs Mitsui & Co. Ltd. (ITAT Delhi) The facts in brief are that the assessee-company is incorporated in Japan and had a subsidiary in India, Mitsui India Pvt. Ltd. (MIPL). In India, assessee has undertaken several projects in connection with big natural installment and power projects during the relevant year through its project office. The Assessing Officer held that Mitsui India Pvt. Ltd., i.e., subsidiary of assessee-company is a Dependent Agent Permanent Establishment (DAPE) of Mitsui, Japan in India. Accordingly he has attributed profit attributable to Indian operations by taking 50...