Case Law Details
Case Name : The Prudential Assurance Company Vs DIT (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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The Prudential Assurance Company Vs DIT (Bombay High Court)
AAR rulings are binding despite contrary rulings of AAR. Assessment order following binding precedent is not amenable to s. 263 revision.
The assessee, a FII based in UK, applied for an advance ruling on whether the profits arising to it from purchase and sale of Indian securities was “business profits” and whether in the absence of a ‘permanent establishment’ in India, the said profits were
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