- (1.) THIS appeal under Section 260A of the Income Tax Act, 1961 the Act arises from a decision of the Income Tax Appellate Tribunal the Tribunal for Assessment Year 2003 -04 ITA No. 2015/Del/2008 which was rendered on 17 January 2014. The assessee is in appeal and has raised the following questions of law: "1. Whether on the facts and circumstances of the case the Tribunal erred in law in upholding the findings of the assessing officer that since the Liaison Office ('LO') was engaged in marketing/ promoting appellant's products in India, the appellant was liable to tax in India on business income;
(2.) WHETHER on the facts and circumstances of the case, the Tribunal erred in law in not appreciating that since activity of advertising/ marketing carried out by LO in India fell within the exclusion contained in Article 5(3)(e) of India -USA DTAA, the LO did not constitute PE of appellant in India and consequently no business profits were liable to tax in India as per Article 7 of that DTAA;
(3.) WITHOUT prejudice, whether the Tribunal erred in law in assessing the surplus funds remitted by the appellant/ Head Office as business income liable to tax in India; Without prejudice, whether the Tribunal erred in law in not appreciating that only profits attributable to alleged business activities carried out by LO in India could have been brought to tax in India, having regard to functions performed, assets employed and risk assumed ('FAR analysis') by LO;;