Supreme Court of India
M/s. Dit (international Taxation), Mumbai v. M/s. Morgan Stanley & Co.
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4 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the ruling is correct in principle B provided that an associated enterprise (that also constitutes a PE) is remunerated on arm's length basis taking into account all the risk-taking functions of the multinational enterprise.
Judgment, page 34
From the headnote
Income Tax Act, 1961: c Section 92-lnterniitional transaction-Computation of income from- Arm's length price-Relevance of-Methods to determine-Authority for Advanced Ruling (AAR)-Permanant Establishment (PE)-Projits attributable to-Morgan Stanley & Co. (MSC) has three main lines of business, namely, securities investments management, investment banking and credit services- MSCO had set up a captive Business Process Out sourcing (BPO) in India, namely, Morgan Stanley Advantage Services (MSAS)-MSCo accordingly made an application seeking an Advance Ruling as to whether it was having \. a
Where later benches applied it
- 2020 Director of Income Tax-ii (international Taxation) New Delhi & Anr. v. M/s. Samsung Heavy Industries Co. Ltd.
- 2022 C.C., C.E. & S.T. – Bangalore (adjudication) Etc. v. M/s Northern Operating Systems Pvt Ltd.
- 2020 Union of India & Anr. v. Exchange Centre
- 2017 Assistant Director of Income Tax-i, New Delhi v. Mis. E-funds It Solution Inc.
Of those, 1 relied on · 3 referred to
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