SC Refuses Reassessment
The Supreme Court of India has made a significant decision regarding the income tax reassessment notices against GE Power Solutions.
The company was alleged to have a Permanent Establishment (PE) in India, which would have made it liable for income tax in the country.
- The reassessment notices were issued based on this allegation, but the company contested the notices, arguing that it did not have a fixed place of business in India.
- The Supreme Court has now dismissed the reassessment notices, finding no merit in the allegations against GE Power Solutions.
- The decision brings an end to the long-standing dispute between the company and the income tax authorities in India.
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