Interest and Damages Not Taxable Under DTAA if no PE

ITAT Mumbai Gold crest Exports Vs. ITO ITA No. 442/Mum/2009, (Assessment year: 2005- 06) 7th day of September 2010 ORDER PER R. S. PADVEKAR, JM 1. The Assessee has filed this appeal challenging impugned order of the Learned CIT (A)-XII Mumbai for the assessment year 2005-06 dated 3.11.2008. 2. The first issue is dis allowance of Rs. 38,41,257/- u/s.40(a) of the Income Tax Act, which was in respect of the payment of compensation under the arbitration award to non-resident company. The facts pertaining to the issue which reveal from the record are as under. 3. The assessee firm ...