Offshore Supply Income Not Taxable in India Due to Absence of Business Connection: Delhi HC

CIT Vs Nokia Network OY (Delhi High Court) In CIT Vs Nokia Network OY, the Delhi High Court examined issues relating to the existence of a Permanent Establishment (PE), taxability of offshore supplies, characterization of software payments, and taxability of interest on delayed payments under the Income-tax Act, 1961 and the India-Finland DTAA. The assessee, a Finland-based company, supplied GSM equipment to Indian telecom operators on a principal-to-principal basis, with installation and support activities carried out by its Indian subsidiary under separate contracts. Read SC Judgment in this...