TDS not deductible on Payment to foreign insurer not having PE in India

Tata AIG General Insurance Company Limited Vs DCIT (ITAT Mumbai) Facts- The assessee, being a general insurance company, is challenging the disallowance of re-insurance premium paid to non-resident reinsurers, who do not have a place of business / branch in India, u/s.37(1) of the Act. The alternative disallowance that was made by the ld. AO in this regard was u/s.40(a)(i) of the Act for payments made without deduction of tax at source. Conclusion- We would like to reiterate the fact that there is absolutely no dispute that the foreign reinsurers does not have any place of business in India / ...