SC Dismisses Appeal Due to Delay, HC Ruling on No PE and Offshore Taxability Stands

CIT Vs Nokia Corporation (Supreme Court of India) In CIT Vs Nokia Corporation, read with the Delhi High Court judgment, the dispute concerned the existence of a Permanent Establishment (PE), attribution of income, taxability of software payments, and treatment of interest on delayed payments under the Income-tax Act, 1961 and the India-Finland DTAA. The assessee, a Finland-based company, supplied telecom equipment to Indian operators on a principal-to-principal basis, while installation and support activities were undertaken by its Indian subsidiary under separate contracts. Read HC Judgment ...