1. Leave granted. We have heard learned Counsel for the parties and perused the record.
2. In the judgment of this Court dt. 24th Oct., 2017 in Asstt. Director of IT v. E-Funds IT Solution Inc., Civil Appeal No. 6082 of 2015 and connected matters [reported at (2017) 298 CTR (SC) 505 [LQ/SC/2017/1542 ;] : (2017) 158 DTR (SC) 337 Ed.], it has been held that once ALP principle has been satisfied, there can be no further profit attributable to a person even if it has a PE in India.
3. Since the impugned notice for the reassessment is based only on the allegation that the Appellant(s) has PE in India, the notice cannot be sustained once ALP procedure has been followed.
4. Accordingly, the impugned order(s) is set aside and the appeals are allowed. Learned Counsel for the Revenue states that he does not have complete instructions. If the Revenue disputes the above factual position, it will be at liberty to move this Court.
