Disallowance u/s 40(a)(i) of management fees to AE unsustainable as amount not taxable in India

Everest Business Advisory India Private Limited Vs ACIT (ITAT Delhi) ITAT Delhi held that management fees paid to AE is not chargeable to tax in India in terms with Article 12(4) of India-USA DTAA and hence disallowance of the same u/s 40(a)(i) of the Income Tax Act for non-deduction of TDS is unsustainable in law. Facts- In course of assessment proceedings, AO noticed that in the assessment years under dispute, assessee, Everest Business Advisory India Private Limited had paid certain amounts to its overseas associated enterprises viz. Everest Global Inc. towards management fee. Assessee subm...