No Equalisation Levy Applicable in case of Mastercard Asia

Mastercard Asia Pacific Pte. Ltd. Vs Union of India & Ors. (Delhi High Court)

The issue under consideration is whether the equalisation levy will be applicable in case of Mastercard Asia or not?

In the present case, the MasterCard filed a writ petition against the stand of the advance ruling authority which says that MasterCard has a fixed permanent establishment in India, and hence it should pay tax on income earned here.

High Court states that they has no desire of collecting equalization levy in respect of income on which tax has already been paid by MasterCard either by way of TDS or advance tax. Based on the revenue department’s statement, the high court said that the issue stands resolved and hence it disposed off the case.

FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT

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