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Remission of tax liability born by employer pertaining to earlier years can’t be taxed u/s 41(1): ITAT

September 10, 2021[2021] 130 taxmann.com 20 (Dehradun - Trib.)

INCOME TAX : Remission of income tax liability of employees is not covered under receipts/amounts mentioned in section 44BB(2), hence, where assessee filed its return of income on presumptive taxation under section 44BB, remission of income tax liability borne by assessee on behalf of its employees pertaining to earlier years, could not have been taxed under section 41(1)

INTERNATIONAL TAXATION : Where assessee had entered into a contract for provision of semi submersible deepwater drilling rig and had shown that its rig moved out of India in earlier years and there were no activities carried out from project office in India, it could not be said that assessee had a permanent establishment in India

INTERNATIONAL TAXATION : Where assessee did not have a permanent establishment in India, it will be entitled to take benefit of article 12 of India UK DTAA, therefore, interest received on income tax refund of assessee would be subject to taxation as per article 12(2) of India UK DTAA at rate of 15 per cent of gross amount of interest as income

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