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ITAT justified reassessment as Foreign Co. had failed to disclose revenue earned from its PE in India

January 4, 2019[2019] 101 402 (Delhi - Trib.)

IT/ILT: Where on basis of materials gathered, during survey at India Liason Office of non-resident assessee, it was evident that assessee had a PE in India and it had failed to disclose revenue received from sales made to Indian customers through its Indian Office, income having escaped assessment, reassessment proceedings were justified

IT/ILT: Where in case of assessee non-resident, business was mainly carried out from Indian Liason Office GEIOC which was not merely preparatory or auxiliary in nature, it was to be held that GEIOC constituted fixed place PE for assessee

IT/ILT: Where PE of assessee an Italy based company in India, conducted core activities and extent of activities by assessee in making sales in India was roughly one fourth of total marketing effort, 26 per cent of total profit in India would be attributable to operations carried out by PE in India

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