Dismissal of ACIT, International Taxation’s Appeal Against Avnet Asia Pte Ltd in ITA No. 1282/DEL/2022
In a notable judgement dated 25th July 2023, the Income Tax Appellate Tribunal, Delhi Bench ‘D’, presided by Shri G.S. Pannu, President, and Shri Saktijit Dey, Vice-President, delivered a decisive verdict in the case of ACIT, International Taxation, Circle-1(1)(1), New Delhi versus Avnet Asia Pte Ltd., Singapore (ITA Nos. 1282, 1285, 1287 & 1284/Del/2022), pertaining to the assessment years 2013-14, 2014-15, 2015-16, & 2017-18. This case centered on the dispute regarding the taxability of income earned by the respondent from its operations in India.
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