ITAT Upholds Income Tax Addition On Amount Received For Arbitration Settlement Mar 30, 2023 03:36 PM

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently upheld the addition made by the assessing officer upon the income received on arbitration settlement. Assessee TGE Gas Engineering was incorporated in Germany and is a tax resident therein. The assessee had a Project office in India during the year under consideration. During the…