Disallowance u/s 40(a)(i) unsustainable as consideration not regarded as income deemed to accrue or arise in India

Subex Technologies Limited Vs JCIT (ITAT Bangalore) ITAT Bangalore held that disallowance u/s 40(a)(i) unsustainable as assessee is not liable to deduct TDS for reason that consideration received couldn’t have been regarded as income deemed to accrue or arise in India. Facts- The Tribunal had disposed of the above case vide its order dated 29.07.2016. The Tribunal decided the issue in favour of the assessee. The Tribunal held that the payment made to the Associate Enterprise (AE) in USA amounting to Rs.62,49,83,348 was merely a journal entry, hence, need for tax deduction at source u/s 195 o...